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.

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 Perancangan Sistem Tata Udara Ditinjau dari Aspek Energi dan Biaya pada Bangunan Hotel di Semarang

2020 ◽  
Vol 2 (3) ◽  
pp. 97-106
Author(s):  
Agus Marjianto ◽  
Dave Mangindaan
Keyword(s):  
Life Cycle ◽  
Cost Analysis ◽  
Life Cycle Cost ◽  
Air Conditioning ◽  
Tourism Industry ◽  
Cost Calculation ◽  
Life Cycle Cost Analysis ◽  
Cooling Load ◽  
Air Conditioning System ◽  
Central Air Conditioning

[Design of air conditioning system based on the energy and costs aspect of  hotel buildings in Semarang] Indonesia’s economic growth has been above 5% for the past few years. Tourism industry is one of the sectors that shows a significant progress. The improvement in tourism industry has to be supported with good hospitality industry as well. Air conditioning system is one of the main utilities in a hotel building. The design of the air conditioning system for a hotel building must pay close attention to the thermal comfort factor for the guests, safety factor, and energy and cost efficiency aspect of it. Air conditioning system design consists of cooling load calculation for the hotel, air conditioning system selection, energy and cost calculation using the life cycle cost analysis. The maximum cooling load in this hotel is 3.279 kW. From that cooling load, three alternative systems are being considered, which are the central air conditioning system using chiller machine that has constant flowrate, the central air conditioning system using chiller machine that has variable flowrate, and the split air conditioning system using VRF machine. Energy analysis and life cycle cost analysis for 20 years was performed to be able to decide the best system. From that energy and cost analysis it can be concluded that the second alternative, which is three units of chiller with variable discharge with a capacity of 1,100 kW for each chiller, is the best system for the hotel. This system has an energy consumption intensity value of 118 kWh/m2 per year and total cost of Rp. 87,707,416,390  for a period of 20 years.

scholarly journals Life Cycle Equivalent Annual Cost (LCEAC) as a Comparative Indicator in the Life Cycle Cost Analysis of Buildings with Different Lifetimes

2018 ◽  
Vol 196 ◽  
pp. 04079 ◽  
Author(s):  
Edyta Plebankiewicz ◽  
Krzysztof Zima ◽  
Damian Wieczorek
Keyword(s):  
Life Cycle ◽  
Service Life ◽  
Cost Analysis ◽  
Annual Cost ◽  
Life Cycle Cost ◽  
Life Cycle Cost Analysis

The paper deals with the issue of the life cycle cost in the construction. It also focuses on the part of the model for the calculation of the life cycle cost of buildings with consideration of the risk that allows the calculation of the life cycle cost of buildings with different lifetimes. For the construction of this part of the model, the authors used the life cycle equivalent annual cost indicator (LCEAC). The operation of this part of the model was presented on the example of three scenarios of the life cycle of pneumatic sports halls for which the estimated service life of the building (ESLB) was ranged from 19 to 30 years.

Life Cycle Cost Analysis on Impregnated Bridge Edge Beams

2014 ◽  
Vol 20 (6) ◽  
pp. 441-446
Author(s):  
O. During ◽  
K. Malaga
Keyword(s):  
Life Cycle ◽  
Service Life ◽  
Cost Analysis ◽  
Life Cycle Cost ◽  
Economic Benefit ◽  
Economic Cost ◽  
Life Cycle Cost Analysis ◽  
Economic Analyses

Abstract The aim of this study is to perform a life cycle cost analysis (LCC), where the economic cost of extending service life by the impregnation of bridge edge beams is compared to the reparation of an edge beam. Previous economic analyses on bridge edge beams had shown that there was no clear economic benefit in impregnating the edge beams. However, results from this study pointed out that in most cases there is a clear economic benefit to impregnate the bridge edge beams even if it has to be repeated every 15 years.

Incorporating Variability into Pavement Performance, Life-Cycle Cost Analysis, and Performance-Based Specification Pay Factors

2005 ◽  
Vol 1940 (1) ◽  
pp. 13-20 ◽  
Author(s):  
Leanne Whiteley ◽  
Susan Tighe ◽  
Zhanmin Zhang
Keyword(s):  
Life Cycle ◽  
Service Life ◽  
Cost Analysis ◽  
Life Cycle Cost ◽  
Service Performance ◽  
Pavement Performance ◽  
Life Cycle Cost Analysis ◽  
Asphalt Overlay ◽  
Design Life

This paper describes a recent research study that examined how changes in design life affected the pavement life-cycle cost and ultimately how the reduction in or addition to life-cycle cost attributed to superior or inferior in-service performance could be used as a basis for establishing a pay factor for a performance-based specification. Previous models were developed with data from the Canadian Long-Term Pavement Performance Program, which indicated that overlay thickness, total prior cracking, annual freezing index, annual days with precipitation, and accumulated equivalent single-axle loads (ESALs) after 8 years affected the slope of pavement deterioration for asphalt overlay pavements. One of these models, as well as data from the U.S. Long-Term Pavement Performance test sites, is used to determine the service life of asphalt overlay pavements. This paper examines how the variability associated with overlay thickness, total prior cracking, and accumulated ESALs after 8 years affects the service life of asphalt overlay pavements. Furthermore, this paper considers the variability associated with the discount rate and incorporates all associated variability into the life-cycle cost analysis (LCCA). LCCA is performed by using Monte Carlo techniques. On the basis of a recent study, distributions for service life and life-cycle costs are developed by using both normal and lognormal distributions for overlay thickness. With the LCCA values for typical design lives, a sensitivity analysis is subsequently performed to evaluate the impact of 10%, 20%, and 30% differences in the in-service performance as compared to the design life. These LCCA differences are then used as a basis for establishing pay factors. Overall the paper attempts to relate design to in-service performance life-cycle cost and the ultimate use of pay factors.

scholarly journals A life-cycle cost analysis for flooring materials for healthcare facilities

2015 ◽  
Vol 4 (4) ◽  
pp. 92 ◽  
Author(s):  
Debra D. Harris ◽  
Lori Fitzgerald
Keyword(s):  
Life Cycle ◽  
Cost Analysis ◽  
Life Cycle Cost ◽  
Product Information ◽  
Life Cycle Cost Analysis ◽  
Healthcare Facilities ◽  
Cost Of Ownership ◽  
Flooring Materials ◽  
Over Time

Objective: In this study, hard, resilient and soft flooring materials are compared using a building service life of 50 years, an established life span for healthcare facilities. The purpose of this study is to evaluate the life-cycle cost of flooring products and inform decision-makers about the long-term cost of ownership along with other key factors, such as safety, durability, and aesthetics.Methods: The protocol for executing an life-cycle cost analysis (LCCA) is defined by the National Institute of Standards and Technology (NIST), including defining the problem, identifying feasible alternatives, and establishing common assumptions and parameters, as well as acquiring financial information. Product information for the flooring materials that met inclusion criteria based on characteristics of the products consistent with use in healthcare facilities was acquired including maintenance, installation, warranty, and cost data. LCCA calculations recognize the time value of money and use discounting to project future value.Results: The results generated from the LCCA using present value to project future costs provide a useful tool for projecting costs over time for the purpose of planning operational and maintenance costs associated with the long-term investment of ownership. The findings suggest that soft flooring is more cost effective for initial purchase and installation, equipment assets, and maintenance over time of facilities.Conclusions: Cost is an important factor when considering flooring materials for healthcare facilities. Other factors to be considered are safety, durability and aesthetics, cleanliness, acoustics and sustainability to realize the overall return on investment. This study developed a tool for projecting costs of ownership for facility materials, in this case, flooring. The selection of flooring material has a significant impact on the cost of ownership over the life of the facility.

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
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