- Title
- Conceptual modelling of railway infrastructure cost-a system dynamics approach
- Creator
- Mafokosi, Katleho; Pretorius, Jan-Harm; Chattopadhyay, Gopinath
- Date
- 2021
- Type
- Text; Conference paper
- Identifier
- http://researchonline.federation.edu.au/vital/access/HandleResolver/1959.17/184762
- Identifier
- vital:16574
- Identifier
-
https://doi.org/10.1109/ICMIAM54662.2021.9715215
- Identifier
- ISBN:9781665466714 (ISBN)
- Abstract
- The investment decision making in railway infrastructure plays a vital role in safe and reliable utilization of the infrastructure. There is a considerable contribution to the country's economy from railway transport infrastructure, which requires continuous investment in the railway infrastructure. The infrastructure investment in maintenance, renewal and construction increases the availability and capacity of the railway infrastructure. Economic indicators are used to analyze and evaluate the infrastructure life cycle cost in order to justify the investment decisions. System dynamics modelling is used to outline the feedback structure of railway infrastructure life cycle cost. The system structure, system component relationships, and system behavior are defined using systems thinking in order to analyze the causality between different variables. System dynamic modelling shows how different variables influence the railway infrastructure life cycle cost and investment decision making. The understanding of how the system works enables well-informed decision making. The application of the system dynamics approach in the conceptual modelling of the railway infrastructure cost will enable past system behavior or occurrences to be explained and the future ones to be predicted. © 2021 IEEE.
- Publisher
- Institute of Electrical and Electronics Engineers Inc.
- Relation
- 2021 International Conference on Maintenance and Intelligent Asset Management; ICMIAM 2021; Ballarat, 12-15 December 2021
- Rights
- All metadata describing materials held in, or linked to, the repository is freely available under a CC0 licence
- Rights
- Copyright © 2021 IEEE
- Subject
- Causal loop diagram; Investment decision making; Life cycle cost; System dynamics
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