Water supply has become a priority for developed and developing nations of the world. Conventional water resources alone cannot meet the growing demand for water in urban cities. Management of the problem is amplified by uncertainty associated with different development strategies. Singapore has...

Complex engineering systems are usually designed to last for many years. Such systems will face many uncertainties in the future. Hence the design and deployment of these systems should not be based on a single scenario, but should incorporate flexibility. Flexibility can be incorporated in...

To address the issue of decision support for designing and managing flexible projects and systems in the face of uncertainties, this paper integrates real options valuation, decision analysis techniques, Monte Carlo simulations and evolutionary algorithms in an evolutionary real options...