scholarly journals A Stochastic Approach for Life-Cycle Cost Analysis of Railway Turnouts Exposed to Climate Uncertainties

Proceedings ◽  
2018 ◽  
Vol 2 (16) ◽  
pp. 1142
Author(s):  
Mehmet Hamarat ◽  
Sakdirat Kaewunruen
Keyword(s):  
Life Cycle ◽  
Cost Analysis ◽  
Life Cycle Cost ◽  
Stochastic Approach ◽  
Life Cycle Cost Analysis ◽  
Operational Flexibility ◽  
Railway Tracks

A turnout, a component on modern railway tracks, provides operational flexibility by diverting the vehicles to different directions between two routes. [...]

scholarly journals How to Model Uncertain Service Life and Durability of Components in Life Cycle Cost Analysis Applications? The Stochastic Approach to the Factor Method

2018 ◽  
Vol 10 (10) ◽  
pp. 3642 ◽  
Author(s):  
Elena Fregonara ◽  
Diego Ferrando
Keyword(s):  
Life Cycle ◽  
Service Life ◽  
Cost Analysis ◽  
Life Cycle Cost ◽  
Stochastic Approach ◽  
Cost Calculation ◽  
Life Cycle Cost Analysis ◽  
Global Cost ◽  
Building Project ◽  
Over Time

The durability of components is characterized by uncertainty, and, consequently, their estimated service life is critical for building project evaluation. Data on the durability of components used as life cycle cost analysis (LCCA) model input are able to influence model construction, model outputs, and residual value calculations. This implies dealing with uncertainty in cost estimates, according to the real estate market dynamics and the economic trends of the construction sector, and in service life estimates during the project time-horizon. This paper acknowledges the methodology presented in previous studies, based on the stochastic global cost calculation. The aim is to propose a methodological step forward by introducing flexibility over time in model input, through a stochastic approach to the Factor Method (FM). This represents an advancement in respect to the FM normed by ISO 15686—part 1:2000. Two different frames, timber and aluminum, as components of a glass façade of an office building project (located in Turin, Northern Italy), are proposed as a case study. The results give full evidence of the capacity of lifespan variables to affect the global cost calculation, overcoming the effects of environmental and financial elements, in contrast with the consolidated literature. The study demonstrates that beta and gamma distributions are preferable when introducing flexibility over time during the building construction processes, confirming the literature on the topic. The methodology adopted is demonstrated to be an effective tool when in presence of alternative investment options, enforcing decision-making in a temporal perspective.

Economic Evaluation of Multislice Computed Tomography Scanners Through a Life Cycle Cost Analysis

2011 ◽  
Vol 4 (5) ◽  
pp. 158-161 ◽  
Author(s):  
A. Morfonios A. Morfonios ◽  
◽  
D. Kaitelidou D. Kaitelidou ◽  
G. Filntisis G. Filntisis ◽  
G. Baltopoulos G. Baltopoulos ◽  
...  
Keyword(s):  
Computed Tomography ◽  
Life Cycle ◽  
Economic Evaluation ◽  
Cost Analysis ◽  
Life Cycle Cost ◽  
Multislice Computed Tomography ◽  
Life Cycle Cost Analysis ◽  
Tomography Scanners

BIM-based approach to conduct Life Cycle Cost Analysis of resilient buildings at the conceptual stage

2021 ◽  
Vol 123 ◽  
pp. 103480
Author(s):  
Mohammad Amin Hamedi Rad ◽  
Farzad Jalaei ◽  
Ashkan Golpour ◽  
S. Saeid Hosseini Varzande ◽  
Geoffrey Guest
Keyword(s):  
Life Cycle ◽  
Cost Analysis ◽  
Life Cycle Cost ◽  
Life Cycle Cost Analysis
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