Water Resources Research · 1969 · 89 citations · 0 references
Natural ResourcesProject ManagementWater Resources ManagementConstruction SchedulingFacilities PlanningWater Resources PlanningConstruction SequencingCost PlanningWater EconomicsWater Resource EconomicsWater Supply EngineeringWater Supply OperationsConstruction Sequencing OptimizationWater Supply Cost AnalysisWater Supply OptimizationWater Supply Planning
A minimum present cost strategy for investment in water projects is derived. An increase in demand for water is considered to be supplied by a number of projects that have an indefinite life. The optimum sequence of installation of these projects is determined by (1) the shape of the water demand/time relationship, (2) the appropriate interest rate, and (3) the relative costs and capacities of the facilities from which a selection is made. A general method to derive the optimum sequence of construction is developed using dynamic programing. Examples of the use of the technique are given.