Modelling the cost of railway asset renewal projects using pairwise comparisons

Ling, Darong; Roy, Rajkumar; Shehab, Essam; Jaiswal, Jay; Stretch, John J.

doi:10.1243/09544097jrrt31

Cited by 5 publications

(3 citation statements)

References 11 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Modelling the cost of railway asset renewal projects using pairwise comparisons [342] UK Design X X Presented the development process of a cost-estimating model for railway renewal projects at the early stage of a project life cycle. The practical implications of the developed model are its ability to estimate renewal project costs of railway assets when there is a lack of quantitative data and detailed project definition.…”

Section: Pairwise Comparisonsmentioning

confidence: 99%

Minimizing Cost Overrun in Rail Projects through 5D-BIM: A Systematic Literature Review

et al. 2023

View full text Add to dashboard Cite

Mega projects delivering rail infrastructure are constantly seeking cost-effective and efficient technologies to sustain the growing population. Building information modeling (BIM) and BIM for cost management (5D-BIM) have shown great potential in the building industry and have been adopted widely. However, 5D-BIM implementation in rail infrastructure is still in its infancy. This paper presents a systematic literature review of 380 publications related to cost overrun, cost management and 5D-BIM for rail infrastructure, including rail projects. The review identified knowledge gaps and synthesized existing research on cost overrun in rail projects, cost estimation models, and the current use of 5D-BIM. The review revealed that there is no current study integrating 5D-BIM into the rail project lifecycle. This paper highlights the importance of integrating 5D-BIM systematically in the rail project life cycle to avoid/minimize cost overrun. The review provides researchers and practitioners with crucial information for deploying 5D-BIM to minimize cost overruns in rail projects.

show abstract

Section: Pairwise Comparisonsmentioning

confidence: 99%

Minimizing Cost Overrun in Rail Projects through 5D-BIM: A Systematic Literature Review

et al. 2023

View full text Add to dashboard Cite

show abstract

“…In this section, the network for a North American class 1 railroad is used as an example to discuss how to determine α, γ, and the flow cost in the ISM. For a multiyear capacity planning project, the increase in flow cost over time and the discount factor to compute the net present value are considered; therefore, c ij in this general formulation is a set of discounted flow costs by year within the planning horizon (Acharya et al 1991;Lee 2002;Ling et al 2006). Fig.…”

Section: Ism For a Class 1 Railroadmentioning

confidence: 99%

Comprehensive Decision Support Framework for Strategic Railway Capacity Planning

Lai

Barkan

2011

J. Transp. Eng.

View full text Add to dashboard Cite

The potential growth of railway traffic is expected to be substantial worldwide; hence, railway companies and agencies are looking for better tools to allocate their capital investments to capacity planning in the best possible way. This paper presents a comprehensive decision support framework with three stand-alone tools for strategic railway capacity planning: (1) "Alternatives Generator," which enumerates the possible expansion options along with their cost and capacity effects; (2) "Investment Selection Model," which determines the portions of the network that need to be upgraded with certain capacity improvement alternatives; and (3) "Impact Analysis Module," which evaluates the trade-off between capital investment and delay cost. This research also developed and implemented a specific decision support framework for North American class 1 railroads. On the basis of the network characteristics, estimated future demand, and available budget, this decision support framework can successfully determine the optimal investment plan. This tool can significantly help railroads maximize the return on investment from capacity expansion projects, thus enhancing their ability to provide reliable service to customers.

show abstract

“…To compare delay cost and capital investment in the same duration base (year), the authors further defined an attribute, annual net investment, as the total construction cost of the alternative (Table 2) divided by the infrastructure life (∼20 years). It is based on the life-cycle cost analysis method commonly used for multiyear capacity planning projects (10)(11)(12)(13)(14). Finally, the alternatives were ranked on the basis of the benefit as defined by annual delay cost divided by the annual net investment cost.…”

Section: Impact Analysis Modulementioning

confidence: 99%

Enhanced Parametric Railway Capacity Evaluation Tool

Lai

Barkan

2009

Transportation Research Record

View full text Add to dashboard Cite

Many railroad lines are approaching the limits of practical capacity, and estimated future demand is projected to increase 84% by 2035. Therefore, identifying a good multiyear capacity expansion plan has become a particularly timely and important objective for railroads. An enhanced parametric capacity evaluation tool has been developed to assist railroad companies in capacity expansion projects. This evaluation tool is built on the Canadian National Railway Company parametric model by incorporating enumeration, cost estimation, and impact analysis modules. Based on the subdivision characteristics, estimated future demand, and available budget, the proposed tool will automatically generate possible expansion alternatives, compute line capacity and investment costs, and evaluate their impact. For a particular subdivision, there are two outputs from this decision support tool: a plot that depicts the delay-volume relationship for each alternative and an impact and benefit table that shows the impact of the future demand on the subdivision with different upgrading alternatives. The decision support tool is highly beneficial for budget management of North American railroads.

show abstract

Modelling the cost of railway asset renewal projects using pairwise comparisons

Cited by 5 publications

References 11 publications

Minimizing Cost Overrun in Rail Projects through 5D-BIM: A Systematic Literature Review

Minimizing Cost Overrun in Rail Projects through 5D-BIM: A Systematic Literature Review

Comprehensive Decision Support Framework for Strategic Railway Capacity Planning

Enhanced Parametric Railway Capacity Evaluation Tool

Contact Info

Product

Resources

About