Activity and value orientated decision support for the development planning of a theme park

Abstract

The development of a large theme park usually includes multiple phases. The combination and development ordering of facilities in these phases have a great impact on the attractiveness of the theme park. Examples of such facilities are attractions, food service, accommodation, and supporting facilities. Some of these facilities although highly profitable, cannot attract visitors on their own, while others may boost the visitor count, yet by themselves do not make a profit. This research considers the values that each development activity brings to the project, and prioritizes feasible alternatives based on their net present values. Based on the integration of simulation and the genetic algorithm, a decision support system has been developed to determine the combination and ordering of facilities, and the resources needed for each development step. This development plan will provide investors with systematic and quantitative information that will help them to determine the development portfolio of each facility under the constraint of the funding program. (c) 2006 Elsevier Ltd. All rights reserved.