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Life Cycle Cost Analysis For Bridges: in Search of Better Investment and Engineering Decisions
Life Cycle Cost Analysis For Bridges: in Search of Better Investment and Engineering Decisions
Cost Considerations
Present Worth Salvage Costs Initial Cost
Costs
Rehabilitation Cost
Years
Salvage Value
FC t MC IC FRC UC S pwf
= First (Initial) Cost = Time Period of Analysis = Maintenance Costs = Inspection Costs = Future Rehabilitation Costs = Users Costs = Salvage Values or Costs = Present Worth Factor
Maintenance Costs
Annual cost associated with the upkeep of the structure Information is difficult to obtain for a given project Cost varies on the basis of size of the structure (sqft) Best Guess Values
Frequency - Annual Concrete 0.05 % of Initial Cost Structural Steel 0.05 % of Initial Cost
Inspection Costs
Requirements set forth in the National Bridge Inspection Standards (23 CFR 650.3) Occurs for all alternatives every two years Cost varies on the basis of size of the structure (sqft) and by construction material Best Guess Values
Frequency - Biannual Concrete 0.15 % of Initial Cost Structural Steel 0.20 % of Initial Cost
Salvage Value/Costs
Occurs once at end of life of structure
Difference between Removal cost Salvage value Best Guess Values
Removal cost 10 % of Initial Cost Salvage Value Concrete - 0 % of Initial Cost Salvage Value Structural Steel - 2 % of Initial Cost
Users Costs
For early construction completion, maintenance and rehabilitations only
Delay-of-use
Time delay Fuel consumption Driver discomfort
Users Costs
Pros
Users pay for transportation system Drives the results
Cons
Owner can not recoup costs Not in my budget Drives the results
Users Costs
Driver Delay Costs:
DDC = (L/Sa-L/Sn) x ADT x N x w
L = Length of affected road way Sa = Traffic speed during maintenance activity Sn = Normal traffic speed ADT = Average daily traffic (vehicles per day) N = number of days of maintenance activity w = Hourly time value of drivers
Users Costs
Vehicle Operating Costs:
VOC = (L/Sa-L/Sn) x ADT x N x r
L = Length of affected road way Sa = Traffic speed during maintenance activity Sn = Normal traffic speed ADT = Average daily traffic (vehicles per day) N = number of days of maintenance activity r = weighted-average vehicle cost
Users Costs
Accident Costs:
AC = L x ADT x N x (Aa-An) x ca
L = Length of affected road way ADT = Average daily traffic (vehicles per day) N = number of days of maintenance activity Aa = Accident rate during maintenance activity An = Normal accident rate ca = Cost per accident
pwf
i n
= Present Worth Factor for discount rate i and year n = Discount rate = Number of years when cost (benefit) will occur
Discount Rate
Interest - Inflation
i= 1 + Inflation
Interest The return of an investment that raises the future value of an invested dollar
Inflation The erosion of a dollars value that raises any future expenses Use of a discount rate allows for the use of constant dollars in the analysis
No te*: Total traffic affected by Main ten an ce, In sp ectio n , Pain tin g , an d Reh abilitatio n activ ity o v er an d u n d er stru ctu re
10.00% 0.00%
700,000 0 700,000
10.00% 2.00%
Tot a l
6,616,750 4,562,250 1,557,792 0 5,733,000 700,000 19,169,792 51,982,341
Tot a l
7,000,000 4,562,250 2,355,267 3,493,000 8,204,000 560,000 26,174,517 80,275,414
User Cost s
48% 44%
Tot a l
37% 54%
Questions?
Thank you for your Attention!