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Published in Dan M. Frangopol, Structures and Infrastructure Systems, 2019
Consideration of lifetime expenses during the initial design stage of civil infrastructure has received fruitful research attention in recent years. A life-cycle cost analysis consists of calculation of not only the initial construction cost, but also costs due to operation, inspection, maintenance, repair, and damage/failure consequences during a specified lifetime. Future costs are usually discounted to the present value for meaningful comparison. The goal is to produce a cost-effective design solution that balances the initial cost and lifetime cost in the preferred manner. Chang and Shinozuka (1996) reviewed the life-cycle cost analysis for civil infrastructure with emphasis on natural hazard risk mitigation. Hassanain and Loov (2003) discussed cost optimization of concrete bridge components and systems and review developments in life-cycle cost analysis and design of concrete bridges.
Corporate-Level Sustainability Practices
Published in J.K. Yates, Daniel Castro-Lacouture, Sustainability in Engineering Design and Construction, 2018
J.K. Yates, Daniel Castro-Lacouture
Many firms use the Leadership in Energy and Environmental Design (LEED) Green Building Rating System guidelines for selecting sites, determining energy and water requirements, evaluating indoor environments, and reviewing material alternatives. Life-cycle cost analysis techniques are used to evaluate sustainable alternatives. Closed-loop systems are selected if it is feasible to incorporate them into a design. Designs are reviewed for process simplification and waste elimination to determine whether there are any methods for eliminating pollution. Materials are evaluated based on their durability in addition to their sustainability. Sustainable design criteria are considered when they are mandated by owners. Local and regional materials are evaluated to determine whether they meet specification requirements. Energy Star options are investigated to determine their viability. The Environmental Protection Agency Procurement guidelines are reviewed and implemented if they are feasible. Designs are evaluated to determine whether modular or prefabricated components might be used to replace other design options.
An overview on the obsolescence of physical assets for the defence facing the challenges of industry 4.0 and the new operating environments
Published in Stein Haugen, Anne Barros, Coen van Gulijk, Trond Kongsvik, Jan Erik Vinnem, Safety and Reliability – Safe Societies in a Changing World, 2018
V. Gonzalez-Prida, J. Zamora, A. Crespo Márquez, L. Villar-Fidalgo, A. De la Fuente, P. Martínez-Galán, A. Guillén
Apart from the a. m. concepts, stricter definitions can be found in the references [2], [3] or [4]. These terms are closely linked to the concept of useful life, which is associated with the time during which the system continues fulfilling its functions [5]. Over the useful life of an asset, it must maintain and keep its value. Each of the stages of the life cycle of an asset will have some associated costs being finally life cycle cost the sum of all these costs. In other words, a life cycle cost analysis must take into account: costs initial acquisition of the physical asset (covering the costs of development and investment); operational costs; maintenance costs (planned, corrective as well as overhauls); and the costs associated with the divestiture of assets or dismantle the installation. If the asset is still used beyond than expected, this latter term, instead of a cost may be considered a Residual value (if for example is sold to a third party). All of the above are often treated from the standpoint of an industrial physical asset, which tend to have a certain operating profiles, to a greater or lesser extent, under controlled environments.
Sustainable roadway construction: Economic and social impacts of roadways in the context of Ethiopia
Published in Cogent Engineering, 2021
Life cycle cost is by the International Standardization Organization (ISO) defined as “[the] cost of an asset or its parts throughout its life cycle, while fulfilling the performance requirements” in the standard for service-life planning of building and constructed assets (ISO 2008)and (Wennström, 2014). About (Chan, 2007), life-cycle cost also can be defined as a means of “the total cost of the initial project plus all anticipated costs for subsequent maintenance, repair, or resurfacing over the life of the pavement” (Michigan legislation PA 79 of 1997). Life-Cycle Cost Analysis (LCCA) was legislatively defined in Section 303, Quality Improvement of the National Highway System NHS Designation Act of 1995. The definition as modified by Transportation Equity Act for the twenty-first century is “ … a process for evaluating the total economic worth of a usable project segment by analyzing initial costs and discounted future cost, such as maintenance, user, reconstruction, rehabilitation, restoring, and resurfacing costs, over the life of the project segment.” (FHWA Pavement Division, 1998). Life-cycle cost analysis is an engineering economic analysis method for assessing the total cost of constructing, maintaining, and operating an asset or facility, or a system of assets/facilities, over an extended period (typically, 20 years or more). Life-cycle cost analysis is a valuable investment analysis tool for assisting transportation managers in evaluating various design strategy alternatives, based on the costs incurred by both the investment/agency/and users of the facility (i.e., direct and indirect costs, respectively).
Improving baggage flow in the baggage handling system at a UAE-based airline using lean Six Sigma tools
Published in Quality Engineering, 2018
Imad Alsyouf, Uday Kumar, Lubna Al-Ashi, Muna Al-Hammadi
The objective of the “improve” phase is to develop solutions for the identified problems and assess the cost-effectiveness of the suggestions. Several industrial engineering tools can be used. First, a SWOT analysis helps evaluate the strengths and weaknesses of the current system, determine the opportunities for growth and improvement, and uncover the threats faced from the external environment (Harrison, 2010). Second, a life-cycle cost analysis helps determine the most cost-effective option among different competing alternatives (Alsyouf et al., 2011). A third tool is multi-criteria decision making; when there are multiple conflicting criteria that need to be evaluated, (Al-Najjar and Alsyouf, 2003). Fourth, system simulation is used to imitate the operations of the various suggested solutions to understand their behaviour over time (Kelton, Sadowski, and Zupick, 2010).
Life-Cycle Cost Analysis of Seismic Designed RC Frames Including Environmental and Social Costs
Published in Journal of Earthquake Engineering, 2022
Arezoo Nouri, Payam Asadi, Masoud Taheriyoun
The major disadvantage of the proposed life-cycle cost analysis is in predicting the future parameters. The prediction of the future costs, environmental changes, and the average annual interest rate are uncertain. In future research, the effect of possible future changes in the mentioned parameters on the results can be evaluated. The proposed method can also be applied to other concrete structural systems (like RC wall structural system) or select the optimal retrofit scenarios (by comparing the total life-cycle cost of different scenarios).