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Real Option Valuation of Flexibility in Operation and Maintenance Contracts of Water Pipelines Based on Reliability Analysis
Publisher: ASCE
Abstract: Pitting corrosion of buried cast iron water pipelines causes damage that cannot be easily detected without advanced monitoring tools. Structural reliability analysis can be used to account for the inherent environmental ...
Bayesian Updating of Copula-Based Probabilistic Project-Duration Model
Publisher: ASCE
Abstract: This paper presents a generic copula-based method for accurate prediction of probabilistic time performance of projects. The proposed stepwise method first collates all uncertainties of the project activities and propagates ...
Applicability of Financial Derivatives for Hedging Material Price Risk in Highway Construction
Publisher: American Society of Civil Engineers
Abstract: Highway infrastructure is critical to the sustainable development of a country. Nonetheless, these capital-intensive projects, especially in build-operate-transfer (BOT) contracts, are prone to the risk of material price ...
Closed-Form Solution to First Passage Probability for Nonstationary Lognormal Processes
Publisher: American Society of Civil Engineers
Abstract: In time-dependent reliability analysis, the calculation of the mean outcrossing or upcrossing rate of a stochastic process from a safe domain or barrier level based on the Rice formula continues to present serious challenge ...
Prediction of Total Cost of Construction Project with Dependent Cost Items
Publisher: American Society of Civil Engineers
Prediction of Pitting Corrosion–Induced Perforation of Ductile Iron Pipes
Publisher: American Society of Civil Engineers
Abstract: The increasing rate of deterioration of buried pipelines has necessitated the development of a robust assessment method for their structural integrity and service life prediction. Among various deterioration mechanisms, ...