Risk assessment and optimal scheduling of serial projects
Zixuan Zhang,
Michail Chronopoulos,
Dimitrina S. Dimitrova
et al.
Abstract:The valuation and planning of complex projects are becoming increasingly challenging with rising market uncertainty and the deregulation of many industries, which have also raised the need for efficient risk management. We take the perspective of a private firm interested in sequential capacity expansion of a project and develop a framework for measuring the downside risk of the serial project and optimising the sequence of the stages. Under general distributional assumptions for the duration of each stage, we… Show more
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