Responding to sustainability challenge and cost implications in highway construction projects
Goh, Kai Chen & Yang, Jay (2010) Responding to sustainability challenge and cost implications in highway construction projects. In Barrett, Peter, Amaratunga, Dilanthi , Pathirage, Chaminda, Keraminiyage, Kaushal, & Haigh, Richard (Eds.) Full Paper Proceedings - CIB 2010 World Congress, Conseil International du Bâtiment (International Council for Building), The Lowry, Salford Quays.
Highway construction often requires a significant capital input; therefore it often causes serious financial implications for developers, owners and operators. The recent industry-wide focus on sustainability has added a new dimension to the evaluation of highway projects, particularly on the economical scale of ‘going green’. Comprehensive analysis of the whole-of-life highway development that responds to sustainability challenges is one of the primary concerns for stakeholders. Principles of engineering economics and life cycle costing have been used to determine the incremental capacity investments for highway projects. However, the consideration of costs and issues associated with sustainability is still very limited in current studies on highway projects. Previous studies have identified that highway project investments are primarily concerned with direct market costs that can be quantified through life cycle costing analysis (LCCA). But they tend to ignore costs that are difficult to calculate, as those related to environmental and social elements. On a more positive note, these studies proved that the inclusion of such costs is an essential part of the overall development investment and a primary concern for decision making by the stakeholders. This paper discusses a research attempt to identify and categorise sustainability cost elements for highway projects. Through questionnaire survey, a set of sustainability cost elements on highway projects has been proposed. These cost elements are incorporated into the extension of some of the existing Life Cycle Costing Analysis (LCCA) models in order to produce a holistic financial picture of the highway project. It is expected that a new LCCA model will be established to serve as a suitable tool for decision making for highway project stakeholders.
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|Item Type:||Conference Paper|
|Additional Information:||The views expressed in the papers are of the individual authors. The editors are not liable to anyone for any loss or damage caused by any error or omission in the papers, whether such error or omission is the result of negligence or any other cause. All and such liability is disclaimed. The reader should verify the applicability of the information to particular situations and check the references prior to any reliance thereupon. Since the information contained in the proceedings is multidisciplinary, international and professional in nature, the reader is urged to consult with an appropriate licensed professional prior to taking any action or making any interpretation that is within the realm of a licensed professional practice.|
|Keywords:||Sustainability, life-cycle costing, highway, cost elements, decision making|
|Subjects:||Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > URBAN AND REGIONAL PLANNING (120500) > Transport Planning (120506)
Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > URBAN AND REGIONAL PLANNING (120500) > Urban Analysis and Development (120507)
|Divisions:||Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Past > Schools > School of Urban Development
|Copyright Owner:||Copyright 2010 CIB 2010 World Congress|
|Copyright Statement:||All rights received. No part of this publication may be reproduced, stored and transmitted in any form, or by any means without prior written permission from the editors.|
|Deposited On:||14 Jun 2010 21:18|
|Last Modified:||29 Feb 2012 14:16|
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