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G. Singh, G.E. Kiangi, "Appraisal of Civil Engineering Projects using Utility Theory", in B.H.V. Topping, (Editor), "Proceedings of the Third International Conference on Civil and Structural Engineering Computing", Civil-Comp Press, Edinburgh, UK, pp 55-62, 1987. doi:10.4203/ccp.4.2.6

Abstract

Civil engineering projects are characterised by a substantial amount of uncertainty and multiplicity of objectives. Conventional techniques of appraising these and other similar projects are ill suited to address the uncertainties adequately and consider all the objectives at once. The utility theory is regarded to be the best modern theory of choice behaviour. Its application has been limited mostly because of the decision makers' unfamiliarity with the technique and the difficulties in generating a reliable utility function. This paper presents a brief summary of the utility theory as well as a program developed to help in generating the utility function and appraising alternative choices. The interactive nature of the program permits its use without any knowledge of the utility theory or the appraising techniques. An example is presented to illustrate the usefulness of both the theory and the program.

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Front Page Browse CCP CSETS CTR IJRT Other Authors Search Purchase Guide FAQ Contact us	Civil-Comp Proceedings ISSN 1759-3433 CCP: 4/5 PROCEEDINGS OF THE THIRD INTERNATIONAL CONFERENCE ON CIVIL AND STRUCTURAL ENGINEERING COMPUTING Edited by: B.H.V. Topping Paper II.6 Appraisal of Civil Engineering Projects using Utility Theory G. Singh and G.E. Kiangi Department of Civil Engineering, University of Leeds, England doi:10.4203/ccp.4.2.6 purchase the full-text of this paper Full Bibliographic Reference for this paper G. Singh, G.E. Kiangi, "Appraisal of Civil Engineering Projects using Utility Theory", in B.H.V. Topping, (Editor), "Proceedings of the Third International Conference on Civil and Structural Engineering Computing", Civil-Comp Press, Edinburgh, UK, pp 55-62, 1987. doi:10.4203/ccp.4.2.6 Abstract Civil engineering projects are characterised by a substantial amount of uncertainty and multiplicity of objectives. Conventional techniques of appraising these and other similar projects are ill suited to address the uncertainties adequately and consider all the objectives at once. The utility theory is regarded to be the best modern theory of choice behaviour. Its application has been limited mostly because of the decision makers' unfamiliarity with the technique and the difficulties in generating a reliable utility function. This paper presents a brief summary of the utility theory as well as a program developed to help in generating the utility function and appraising alternative choices. The interactive nature of the program permits its use without any knowledge of the utility theory or the appraising techniques. An example is presented to illustrate the usefulness of both the theory and the program. purchase the full-text of this paper (price £20) go to the previous paper go to the next paper return to the table of contents return to the book description purchase this book (price £78 +P&P)
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