publication . Other literature type . Article . 2013

Optimal Risk Reduction In The Railway Industry By Using Dynamic Programming

Todinov, Michael; Eberechi Weli;
Open Access English
  • Published: 26 Jul 2013
  • Publisher: Zenodo
Abstract
The paper suggests for the first time the use of dynamic programming techniques for optimal risk reduction in the railway industry. It is shown that by using the concept ‘amount of removed risk by a risk reduction option’, the problem related to optimal allocation of a fixed budget to achieve a maximum risk reduction in the railway industry can be reduced to an optimisation problem from dynamic programming. For n risk reduction options and size of the available risk reduction budget B (expressed as integer number), the worst-case running time of the proposed algorithm is O (n x (B+1)), which makes the proposed method a very efficient tool<br> for solving the opt...
Subjects
free text keywords: Optimisation, railway risk reduction, budget constraints, dynamic programming.
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Zenodo
Other literature type . 2013
Provider: Datacite
ZENODO
Article . 2013
Provider: ZENODO
Zenodo
Other literature type . 2013
Provider: Datacite
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