VULNERABILITY BASED INFRASTRUCTURE FUND ALLOCATION OPTIMIZATION MODEL

Abstract

Infrastructure bills are in permanent increase due to the continuous deterioration with time, and the presence of a gap between the infrastructure rehabilitation needs and the available fund. Accordingly, a fund allocation model became necessary to be created to face this everlasting problem. Many budget allocation models were created, but all these efforts failed to face the fast deterioration rates for infrastructure assets due to neglecting the effect of some factors that accelerate the deterioration rates beyond the expected. The research purpose is to develop a new fund allocation optimization model which maximizes the assets overall physical conditions and with the presence of funding constrains taking in consideration the effect of normal deterioration rates and the vulnerability factors effect by using Markov Chains stochastic deterioration modeling.