Utility theory model for equipment selection

Abstract

This paper presents a model for equipment selection in earthmoving operations, utilizing multi‐attribute utility theory, analytical hierarchy process and computer simulation. Fleet configurations in the developed model are generated randomly from predefined fleet scenarios within a specified range. Simulation experiments are conducted for these generated configurations. The performance of these configurations is obtained from simulation experiments in the form of four measures which represent loader utilization, hauler utilization, project duration and project total cost. The utility values which represent the degree of satisfaction with those measures are estimated. These utility values are multiplied by their corresponding measures’ weights, calculated utilizing the analytical hierarchy process, in order to estimate the expected utility for each configured fleet. The fleet configuration that has the largest utility value is selected as the optimum fleet for the case at hand. A numerical example is presented to illustrate the different features of the developed model.

Citation

Marzouk, M. (2006), "Utility theory model for equipment selection", Construction Innovation, Vol. 6 No. 1, pp. 21-32. https://doi.org/10.1108/14714170610710631