EPIC is presenting a 1.5-day workshop on the principles of LCCA and how it is used in the context of overall transportation asset management. The course is focused on the practical aspects of LCCA in transportation asset management..
- Course Outline
EPIC is presenting a 1.5-day workshop on the principles of LCCA and how it is used in the context of overall transportation asset management. The course is focused on the practical aspects of LCCA in transportation asset management including:
¢ Economic formula.
¢ Interest rate, inflation rate, and discount rate.
¢ Approach (deterministic versus probabilistic).
¢ Analysis period.
¢ Elements to include in a life-cycle cost analysis (initial cost, maintenance and rehabilitation, construction user delay, vehicle operating costs, etc.)
¢ Unit costs of construction, maintenance, and rehabilitation pay items.
¢ Initial asset service life.
¢ Performance characteristics and timing of maintenance and rehabilitation treatments.
¢ Salvage value determination.
¢ Using life-cycle costing principals to evaluate the effectiveness of pavement preservation treatments.
¢ Using life-cycle costing to answer the question, do I spend the money now or spend the money later?
Background and Objectives
The acceptance and widespread use of Life-Cycle Cost Analysis (LCCA) for asset management projects is on the increase and will continue to expand in the years ahead. More agencies are turning to life-cycle cost analysis because it identifies the most cost-effective long term alternative for highway construction maintenance and rehabilitation. LCCA is an analysis technique that builds on principles of economic analysis to evaluate the differences between competing alternative investment options. LCCA incorporates initial and discounted future agency, user, and other relevant costs over the life of alternative strategies and attempts to identify the best value (the lowest long term cost that satisfies the performance objective being sought) for investment alternatives.
Transport Canada is undertaking a cost allocation project to establish the whole life costs to provide all modes of infrastructure in Canada. A key component of this study is the establishment of life-cycle cost estimates for all functional classes of roadways at the Municipal, Provincial and Federal levels.
A key component of asset management and preservation is the use of life-cycle cost analysis (LCCA). LCCA is used to determine the best maintenance or rehabilitation strategy based on the total whole life cost the asset rather than just the initial costs. Key input parameters include the value of money, pavement preservation and rehabilitation strategies and their expected performance.
Who Should Attend The workshop will provide the greatest benefit to municipal and consulting engineers, technologists, and supervisory construction personnel involved in the maintenance of pavements. It is designed to address specific needs of those who manage pavement maintenance activities, select maintenance treatments, specify maintenance techniques and materials, supervise field maintenance operations, and provide quality assurance.
Benefits to Participants
The objective of this workshop is to show the participants how to take advantage of LCCA in making better decisions on how to direct resources to maintain and enhance pavement network performance including:
¢ Understanding of economic theory related to life-cycle costing.
¢ Ability to make funding decisions based on whole life cost.
¢ Effect of user delay and vehicle operating costs on pavement design and rehabilitation planning.
¢ Sensitivity of LCCA parameters in pavement selection.
¢ Techniques for using LCCA and agency-specific cost data for performing cost-effectiveness comparisons of different design and rehabilitation alternatives
¢ Development of appropriate maintenance and rehabilitation plans.
¢ A copy of the presentation materials will be provided to all participants (participant notes and slides).
¢ Attendees will be provided with copies of the MS Excel spreadsheets for 6 complexity levels of LCCA modeling.
¢ Attendees will be provided with a synopsis of the LCCA procedure that is included in the new AASHTO Mechanistic-Empirical Pavement Design Guide (NCHRP Project 1-37A) for the Design of Pavement Structures.
Workshop Instructor: David Hein, P.Eng., Applied Research Associates Inc.
8:00 Welcome and Registration
8:30 Understanding Economic Theory Related to Life-Cycle Costing
9:30 LCCA Using Present Value Method
Type of costs, discount rate, analysis period and elements to include in a life-cycle cost analysis (initial cost, maintenance and rehabilitation, construction user delay, vehicle operating costs, etc.)
10:30 Refreshments and Networking
10:45 Using An MS Excel Spreadsheet for LCCA
11:15 Extension of Basic LCCA By Incorporating Design Evaluation and Risk Concepts, Sensitivity, User Costs
1:00 Probabilistic Approach to Life-Cycle Costing
2:30 Refreshments and Networking
2:45 Introduction and Application of U.S. Federal Highway Administration
Life-Cycle Cost Spreadsheet
3:30 Examples of Life-Cycle Costing for Pavement Maintenance and Rehabilitation Programs
8:30 Welcome and Review of Day 1 Concepts
9:00 Case Studies Outlining the Application and Benefits of LCCA
¢ Evaluation of the effectiveness of pavement preservation treatments
¢ Use of life-cycle cost techniques to evaluate the need to upgrade the surface type of low volume roadways
10:15 Refreshments and Networking
10:30 Case Studies Outlining the Application and Benefits of LCCA
¢ Impact of increasing roadway construction standards on the life-cycle cost of low volume municipal roadways
¢ Use of life-cycle cost procedures for pavement type alternative bidding
¢ Allocation of roadway asset life-cycle cost by vehicle type
1:00 Discussion of How to Use Life-Cycle Costing Techniques to Assist Your Decision Making Processes
2:00 Concluding Remarks and Final Adjournment
- Prerequisites & Certificates
1.2 CEUs / 12 PDHs
- Cancellation Policy
To withdraw from a course, you must send a request, in writing, with the official receipt to our office. Fifteen or more business days in advance: full refund less $50.00 administration charge. Five to fifteen business days in advance: non-refundable credit of equal value for any future EPIC seminar within one year. Credits are transferable within your organization. In case of an unexpected event occurring after this time, you may send someone else to take your place without any additional cost.
- Map & Reviews
EPIC Educational Program Innovations Center
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