The present volatile environment demands new ways of thinking and new tools for project planning, appraisal, and investment decisions for large scale port infrastructures. This paper proposes real options-based adaptive port planning which provides a framework for the planner to first identify...

The evolving function of a port, and many logistical, technological, and economic uncertainties under which it must operate, make the planning and design of these complex socio-technical infrastructures very challenging. A Master Plan of a port is the instrument by which the port's (expansion)...