Operation and maintenance (O&M) service contracts for water and sewer systems have increased considerably in the United States over the last 20 years. Successful O&M contract establishment requires a reasonable estimation of the O&M service contract coupled with a reliable risk-hedging...

Valuation of infrastructure systems under climate change is a challenging issue because climate changes constantly and the influence of climate change is hardly predictable. Serious climate change effects can often be represented by frequent heavy rainfall events and floods. In response,...