The Research in Investment Decisions of Infrastructure Project Based on Value Engineering
|School||Ocean University of China|
|Keywords||Infrastructure Investment decision-making Value engineering Risk analysis|
Infrastructure projects play an important role in promoting the economic development of the country and enhance the quality of people’s lives. This article is designed to reduce the subjective factors in transportation infrastructure project investment decisions, considering multiple factors, making the results has significant scientific and reference value. This paper attempts to use the theory of value engineering (VE), combined with the analytic hierarchy process and triangular fuzzy number method, which is on the basis of the entire life cycle. It is proposed to take full advantage of the pre-project data to reflect the objective facts, quantitative and qualitative analysis combined transportation infrastructure project investment decision-making method.Firstly, the paper introduces the characteristics of transportation infrastructure projects, and the investment decision-making of the current approach. Secondly, for the deficiencies of the traditional single economic evaluation method, the proposed depth discussion of functionality and cost for transportation infrastructure projects, and to quantify the different programs in the economic, social, and environmental factors. Thirdly, establish the investment decision-making model for transportation infrastructure projects under the theory of value engineering. The model first used the Analytic Hierarchy Process function coefficient weights, and then chooses the best cost-effective programs, the use of value engineering theory and the last triangle fuzzy number method in the program for risk analysis, to form a complete decision-making process.After the establishment of transport infrastructure projects decision evaluation program, the program used in the actual case, in-depth analysis. The evaluation system provides a theoretical basis for practice while the case verifies the reasonableness of the evaluation system in the process of actual implementation of infrastructure projects.Compared with the simple evaluation of the economic effects of the decision-making method, the method builds based on the value engineering decisions can be more comprehensive and objective evaluation of the options for transportation infrastructure projects. Finally, the engineering examples Bridge cable program selection, In this paper, the decision-making method validation. The validation results show that the investment decision-making method can be ideal evaluation results.