A development planner for Resort Investment

R. J. Dzeng; Nang-Fei Pan; H. Y. Lee

A development planner for Resort Investment

R. J. Dzeng, Nang-Fei Pan, H. Y. Lee

Department of Civil Engineering

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Abstract

A resort is consisted of amenities and supporting resources (e.g., infrastructure). Some popular amenities alone may attract tourists while others may only attract tourists when they are simultaneously accessible. The inter-dependences among the amenities and supporting resources make the development problem difficult for human experts to optimize. This research presents a new decision-support model, called Resort Investment Planner (RIP), by integrating Monte Carlo simulation and polyploidy genetic algorithms (GAs) to optimize the development levels of resort amenities in each project phase. An experiment with a real project case in Taiwan showed that the development plan produced with RIP took less time (62% faster) with higher net present value (30% higher) than the averages of human experts.

Original language	English
Title of host publication	Proceedings of the 6th International Conference on Engineering Computational Technology
Publication status	Published - 2008 Dec 1
Event	6th International Conference on Engineering Computational Technology, ECT 2008 - Athens, Greece Duration: 2008 Sept 2 → 2008 Sept 5

Publication series

Name	Proceedings of the 6th International Conference on Engineering Computational Technology

Other

Other	6th International Conference on Engineering Computational Technology, ECT 2008
Country/Territory	Greece
City	Athens
Period	08-09-02 → 08-09-05

All Science Journal Classification (ASJC) codes

General Computer Science

Cite this

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title = "A development planner for Resort Investment",

abstract = "A resort is consisted of amenities and supporting resources (e.g., infrastructure). Some popular amenities alone may attract tourists while others may only attract tourists when they are simultaneously accessible. The inter-dependences among the amenities and supporting resources make the development problem difficult for human experts to optimize. This research presents a new decision-support model, called Resort Investment Planner (RIP), by integrating Monte Carlo simulation and polyploidy genetic algorithms (GAs) to optimize the development levels of resort amenities in each project phase. An experiment with a real project case in Taiwan showed that the development plan produced with RIP took less time (62% faster) with higher net present value (30% higher) than the averages of human experts.",

author = "Dzeng, {R. J.} and Nang-Fei Pan and Lee, {H. Y.}",

year = "2008",

month = dec,

day = "1",

language = "English",

isbn = "9781905088249",

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T1 - A development planner for Resort Investment

AU - Dzeng, R. J.

AU - Pan, Nang-Fei

AU - Lee, H. Y.

PY - 2008/12/1

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N2 - A resort is consisted of amenities and supporting resources (e.g., infrastructure). Some popular amenities alone may attract tourists while others may only attract tourists when they are simultaneously accessible. The inter-dependences among the amenities and supporting resources make the development problem difficult for human experts to optimize. This research presents a new decision-support model, called Resort Investment Planner (RIP), by integrating Monte Carlo simulation and polyploidy genetic algorithms (GAs) to optimize the development levels of resort amenities in each project phase. An experiment with a real project case in Taiwan showed that the development plan produced with RIP took less time (62% faster) with higher net present value (30% higher) than the averages of human experts.

AB - A resort is consisted of amenities and supporting resources (e.g., infrastructure). Some popular amenities alone may attract tourists while others may only attract tourists when they are simultaneously accessible. The inter-dependences among the amenities and supporting resources make the development problem difficult for human experts to optimize. This research presents a new decision-support model, called Resort Investment Planner (RIP), by integrating Monte Carlo simulation and polyploidy genetic algorithms (GAs) to optimize the development levels of resort amenities in each project phase. An experiment with a real project case in Taiwan showed that the development plan produced with RIP took less time (62% faster) with higher net present value (30% higher) than the averages of human experts.

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M3 - Conference contribution

AN - SCOPUS:84863373060

SN - 9781905088249

T3 - Proceedings of the 6th International Conference on Engineering Computational Technology

BT - Proceedings of the 6th International Conference on Engineering Computational Technology

T2 - 6th International Conference on Engineering Computational Technology, ECT 2008

Y2 - 2 September 2008 through 5 September 2008

ER -

A development planner for Resort Investment

Abstract

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All Science Journal Classification (ASJC) codes

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