Balancing cost-risk in management optimization of water resource systems under uncertainty

► Water system management models are considered for the distribution of scarce resources under uncertainty. ► To address this problem we construct a set of scenarios about the future values of uncertain values of resource input. ► Stochastic optimization approach aims to obtain a “robust” decision policy minimizing the risk of wrong decisions. ► Multi-period analysis is supported by dynamic networks integrating scenario optimization and re-optimization. ► The application to referenced reservoir-demand water system is considered to illustrate the approach.