Depending on the technical, institutional, economic and social limits of developing countries, as well as the population density in cities, nowadays, the volume of urban waste has increased considerably, and the management of this waste contributes to climate change, and air pollution, it directly affects many ecosystems and many species. Waste management faces serious problems such as irregular collection, informal sweeping activities, uncontrolled dumping and proliferation of illegal dumping. The latter constitute a real and permanent threat to the quality of life, this exponential increase in the urban population and the resulting accelerated phenomenon of urbanization have highlighted the need to develop sustainable and efficient waste management systems. Stakeholders are therefore required to consider alternative and available means of disposal, in particular by minimizing the damage caused to the ecosystem and to the human population, among these means of disposal, controlled landfills, considered as the last option in the waste hierarchy. In this study, attempts were made to locate a new landfill in Oum Azza using the AHP multi-criteria decision-making method to assess the different criteria considered during the prospecting and combining them with the geographic information system to acquire the results in the form of maps displayed on the optimal sites to house a new controlled landfill and minimize its terrible impact on the environment.

The Real Options Valuation allows for the consideration of possible options that are instinctively embedded in investment projects, in which the decision-makers have the flexibility to respond to the outcome of uncertainty. The business managers’ abilities to react to future market conditions tend to impact the value of the investment project by maintaining or improving the upside potential and limiting the downside loss. This process must be regulated by a decision analysis model, capable of capturing the particularities of each project. This paper presents detailed literature review of the real options, includes their area of applications in the literature, then proposes a framework to ease the understanding and the use of this method. Later, a case study of a Moroccan infrastructure project, that had already undergone an evaluation, is outlaid. The paper fully addresses the gaps of the previous study, provides a corrected model for an improved valuation of this project and a suitable use of real options. It also illustrates its application and analyzes the obtained results.

No abstract

No abstract