A Bayesian network framework for project cost, benefit and risk analysis with an agricultural development case study

Successful implementation of major projects requires careful management of uncertainty and risk. Yet such uncertainty is rarely effectively calculated when analysing project costs and benefits. This paper presents a Bayesian Network (BN) modelling framework to calculate the costs, benefits, and return on investment of a project over a specified time period, allowing for changing circumstances and trade-offs. The framework uses hybrid and dynamic BNs containing both discrete and continuous variables over multiple time stages. The BN framework calculates costs and benefits based on multiple causal factors including the effects of individual risk factors, budget deficits, and time value discounting, taking account of the parameter uncertainty of all continuous variables. The framework can serve as the basis for various project management assessments and is illustrated using a case study of an agricultural development project

Integrated Hydro-Economic Modelling: Challenges and Experiences in an Australian Catchment

Integrated catchment policies are widely used to manage natural resources in Australian catchments. Integration of environmental processes with socio-economic systems is often difficult due to the limitations of decision support tools. To support assessments of the environmental and economic trade-offs of changes in catchment management, fully integrated models are needed. This research demonstrates a Bayesian Network (BN) approach to integrating environmental modelling with economic valuation. The model incorporates hydrological, ecological and economic models for the George catchment in Tasmania. Choice experiments were used to elicit information about the non-market costs and benefits of environmental changes. This allows the efficiency of alternative management scenarios to be assessed.Hydro-economic modelling, Integrated catchment modelling, Ecological modelling, Valuation, Bayesian networks, Water quality, Community/Rural/Urban Development, Environmental Economics and Policy, Land Economics/Use,

Integrating economic values and catchment modelling

Integrated catchment policies are widely used to manage natural resources in Australian catchments. Decision support tools available to aid integrated catchment management are often limited in their integration of environmental processes with socio-economic systems. Fully integrated models are required to support assessments of the environmental and economic trade-offs of catchment management changes. A Bayesian Network (BN) model is demonstrated to provide a suitable approach to integrate environmental modelling with economic valuation. The model incorporates hydrological, ecological and economic models for the George catchment in Tasmania. Information about the non-market costs and benefits of environmental changes is elicited using Choice Experiments, allowing an assessment of the efficiency of alternative management scenarios.Integrated catchment modelling, Bayesian networks, Uncertainty, Environmental values, Non-market valuation, Choice Modelling.,

Adaptation of WASH Services Delivery to Climate Change and Other Sources of Risk and Uncertainty

This report urges WASH sector practitioners to take more seriously the threat of climate change and the consequences it could have on their work. By considering climate change within a risk and uncertainty framework, the field can use the multitude of approaches laid out here to adequately protect itself against a range of direct and indirect impacts. Eleven methods and tools for this specific type of risk management are described, including practical advice on how to implement them successfully

Decision support systems for large dam planning and operation in Africa

Decision support systems/ Dams/ Planning/ Operations/ Social impact/ Environmental effects

Applications of Bayesian Networks as Decision Support Tools for Water Resource Management under Climate Change and Socio-Economic Stressors: A Critical Appraisal

Bayesian networks (BNs) are widely implemented as graphical decision support tools which use probability inferences to generate “what if?” and “which is best?” analyses of potential management options for water resource management, under climate change and socio-economic stressors. This paper presents a systematic quantitative literature review of applications of BNs for decision support in water resource management. The review quantifies to what extent different types of data (quantitative and/or qualitative) are used, to what extent optimization-based and/or scenario-based approaches are adopted for decision support, and to what extent different categories of adaptation measures are evaluated. Most reviewed publications applied scenario-based approaches (68%) to evaluate the performance of management measures, whilst relatively few studies (18%) applied optimization-based approaches to optimize management measures. Institutional and social measures (62%) were mostly applied to the management of water-related concerns, followed by technological and engineered measures (47%), and ecosystem-based measures (37%). There was no significant difference in the use of quantitative and/or qualitative data across different decision support approaches (p = 0.54), or in the evaluation of different categories of management measures (p = 0.25). However, there was significant dependence (p = 0.076) between the types of management measure(s) evaluated, and the decision support approaches used for that evaluation. The potential and limitations of BN applications as decision support systems are discussed along with solutions and recommendations, thereby further facilitating the application of this promising decision support tool for future research priorities and challenges surrounding uncertain and complex water resource systems driven by multiple interactions amongst climatic and non-climatic changes. View Full-Tex

The safety case and the lessons learned for the reliability and maintainability case

This paper examine the safety case and the lessons learned for the reliability and maintainability case

PRECAUTION AND A DISMAL THEOREM: IMPLICATIONS FOR CLIMATE POLICY AND CLIMATE RESEARCH

We discuss the implication of Weitzman's Dismal Theorem for climate policy and climate research.climate change, uncertainty

Integrated models, frameworks and decision support tools to guide management and planning in Northern Australia. Final report

[Extract] There is a lot of interest in developing northern Australia while also caring for the unique Australian landscape (Commonwealth of Australia 2015). However, trying to decide how to develop and protect at the same time can be a challenge. There are many modelling tools available to inform these decisions, including integrated models, frameworks, and decision support tools, but there are so many different kinds that it’s difficult to determine which might be best suited to inform different decisions. To support planning and development decisions across northern Australia, this project aimed to create resources to help end-users (practitioners) to assess: 1. the availability and suitability of particular modelling tools; and 2. the feasibility of using, developing, and maintaining different types of modelling tools