Optimal Sizing of Flood Damage Reduction Measures Based on Economic Efficiency
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A computer-based planning methodology for optimally sizing flood damage reduction systems is presented. The decision variables are the size of each structural component of the system, such as storage capacity for reservoirs and flow capacity for channel improvements, and the choice of which non-structural plan to implement in various regions of the floodplain. The decision criterion is to minimize total system cost, which is the sum of the discounted annual cost of implementing and maintaining each measure and the residual expected annual flood damages. A hydrologic and economic simulation model is combined with a search algorithm. The simulation model incorporates procedures for determining the total economic cost for a specified plan. The optimization algorithm iteratively executes the simulation model in an automated search for the optimum plan.
International Journal of Water Resources Development
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