| Title | Life Cycle Cost Analysis in Pavement Design- Interim Technical Bulletin |
|---|---|
| Record ID | 79422 |
| Personal Name Creator |
Walls III, James; Smith, Michael R. |
| Corporate Creator | United States. Federal Highway Administration. Pavement Division |
| Corporate Contributor |
United States. Federal Highway Administration |
| Publisher | United States. Federal Highway Administration |
| Publication Date | 19980301 |
| Language | English |
| Abstract | This Interim Technical Bulletin recommends procedures for conducting Life Cycle Cost Analysis (LCCA) of pavements, provides detailed procedures to determine work zone user costs, and introduces a probabilistic approach to account for the uncertainty associated with LCCA inputs. The bulletin begins with a discussion of the broad fundamental principles involved in a LCCA. It discusses input parameters and presents simple examples of traditional LCCA in a pavement design setting. It discusses the variability and inherent uncertainty associated with input parameters, and provides recommendation on acceptable ranges for the value of time as well as discount rates. It explores the use of sensitivity analysis in traditional LCCA approaches. User costs are a combination of delay, vehicle operating costs, and crash costs. Each of these cost components are explored and procedures are presented to determine their value. Given the power and sophistication of today’s computers and software, simulation techniques, such as Monte Carlo simulation, are recommended for incorporating variability associated with LCCA inputs into final results. The Final Technical Bulletin will include procedures for developing a probabilistic approach to conduct LCCA, as well as actual case studies of the probabilistic approach compared to traditional analysis. |
| Rosap ID | dot:54156 |
| Rosap URL | https://rosap.ntl.bts.gov/view/dot/54156 |
| TRT Terms | Life cycle costing; Risk; User charges; Monte Carlo method; Value of time; Discount fares |
| Geographical Coverage |
United States |
| TRIS Online Accession No |
1769312 |
| Report Number | FHWA-SA-98-061 |
| Resource type | Tech Report |
| URL | https://ntlrepository.blob.core.windows.net/lib/79000/79400/79422/009565.pdf |
| Format | |
| Database | NTL Digital Repository |