An Evolutionary Real Options Framework for the Design and Management of Projects and Systems with Complex Real Options and Exercising Conditions

@inproceedings{Zhang2011AnER,
  title={An Evolutionary Real Options Framework for the Design and Management of Projects and Systems with Complex Real Options and Exercising Conditions},
  author={Stephen X. Zhang and V. Babovic},
  booktitle={Decis. Support Syst.},
  year={2011}
}
To address the issue of decision support for designing and managing flexible projects and systems in the face of uncertainties, this paper integrates real options valuation, decision analysis techniques, Monte Carlo simulations and evolutionary algorithms in an evolutionary real options framework. The proposed evolutionary real options framework searches for an optimized portfolio of real options and makes adaptive plans to cope with uncertainties as the future unfolds. Exemplified through a… Expand
46 Citations
A decision support framework for economic evaluation of flexible strategies in pavement construction projects
  • 1
  • Highly Influenced
An Options Approach for Decision Support of Systems With Prognostic Capabilities
  • 44
Design Catalogs: A Systematic Approach to Design and Value Flexibility in Engineering Systems
  • 10
  • PDF
...
1
2
3
4
5
...

References

SHOWING 1-10 OF 66 REFERENCES
Scenarios, Real Options and Integrated Risk Management
  • 285
Real Options: Dealing With Uncertainty in Systems Planning and Design
  • 221
  • PDF
Value-at-risk analysis for real options in complex engineered systems
  • 58
  • PDF
Reducing Risk Through Real Options in Systems Design: The Case of Architecting a Maritime Domain Protection System
  • 51
Dynamic strategic planning for technology policy
  • R. Neufville
  • Computer Science, Economics
  • Int. J. Technol. Manag.
  • 2000
  • 64
  • PDF
Applying ‘Options Thinking’ To R&D Valuation
  • 242
...
1
2
3
4
5
...