A real option portfolio management framework is proposed to make use of an adaptive network design problem developed using stochastic dynamic programming methodologies. The framework is extended from Smit's and Trigeorgis' option portfolio framework to incorporate network synergies. The adaptive...

This paper presents a methodology for effective operation of road management equipment. The primary goal of this research is to aid public agencies with day-to-day road management within limited financial resources. In order to demonstrate the value of this approach, we present a case study...

A road weather information system is increasingly recognized as a critical proactive tool for winter maintenance because of recent unexpectedly heavy snowfalls and continuously colder temperatures in Korea. Therefore, effective operation of this system is a high priority. Environmental sensor...

Transportation network design is a method for analyzing the interactive benefits of transportation projects applied to a network. In this paper, a network design model is developed for long haul freight movements which are represented by relationships between shippers and carriers. Additionally,...