Dealing with uncertainty through real options for the multi-objective design of water distribution networks

Abstract

16th Water Distribution System Analysis Conference, WDSA2014 — Urban Water Hydroinformatics and Strategic Planning ; Water supply systems are very important for societies. If these systems are to fonction properly uncertainty must be handled. Flexibility is essential when operating systems for long-term planning horizons where uncertainty is high. This work proposes a multi-objective framework based on Real Options with three objectives. A Pareto front of solutions is traced whilst satisfying the constraints of the model. The hydraulic constraints are checked using EPANET hydraulic simulator. The model is solved by means of a multi-objective simulated annealing algorithm and the results are presented through a visualization tool and by showing some water network designs for specific solutions. ; European Union - project DESAFIO