Case Studies in Cross-Asset, Multi-Objective Resource Allocation (2019) / Chapter Skim
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Pages 4-7
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From page 4... ...
4 This chapter provides an overview of cross-asset resource allocation concepts. It describes the characteristics of a cross-asset resource allocation problem, provides an overview of the basic approach for making cross-asset investment decisions, and summarizes the NCHRP Report 806 framework.
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From page 5... ...
Cross-Asset Resource Allocation Overview 5 must typically perform supplemental analyses beyond those supported by any one existing management system to develop realistic projects and determine how to prioritize these projects considering competing objectives. Approaches for Supporting Cross-Asset Resource Allocation Although there are many issues inherent in making cross-asset investment decisions, transportation agencies do in fact make these decisions day in and day out using a mix of approaches.
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From page 6... ...
6 Case Studies in Implementing Cross-Asset, Multi-Objective Resource Allocation A second basic approach is to define a set of candidate projects, each of which may address multiple asset classes and/or investment objectives and then prioritize the individual candidates. An advantage of this approach is that it allows for making final decisions about what work to perform by combining multiple asset classes and investment types.
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From page 7... ...
Cross-Asset Resource Allocation Overview 7 The framework follows the basic approach to decision making with multiple objectives outlined by Keeney and Raiffa (1) , but it is specific to transportation investment decisions and introduces the use of performance measures for characterizing investment impacts.
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