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Developing a life-cycle costing analysis model for sustainability enhancement in road infrastructure project

Goh, Kai Chen & Yang, Jay (2009) Developing a life-cycle costing analysis model for sustainability enhancement in road infrastructure project. In Rethinking Sustainable Development : Planning, Infrastructure Engineering, Design and Managing Urban Infrastructure, Faculty of Built Environment and Engineering, Queensland University of Technology, Queensland University of Technology, Brisbane, Queensland, pp. 324-331.

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Abstract

With increasing pressure to provide environmentally responsible infrastructure products and services, stakeholders are putting significant foci on the early identification of financial viability and outcome of infrastructure projects. Traditionally, there has been an imbalance between sustainable measures and project budget. On one hand, the industry tends to employ the first-cost mentality and approach to developing infrastructure projects. On the other, environmental experts and technology innovators often push for the ultimately green products and systems without much of a concern for cost. This situation is being quickly changed as the industry is under pressure to continue to return profit, while better adapting to current and emerging global issues of sustainability. For the infrastructure sector to contribute to sustainable development, it will need to increase value and efficiency. Thus, there is a great need for tools that will enable decision makers evaluate competing initiatives and identify the most sustainable approaches to procuring infrastructure projects. In order to ensure that these objectives are achieved, the concept of life-cycle costing analysis (LCCA) will play significant roles in the economics of an infrastructure project. Recently, a few research initiatives have applied the LCCA models for road infrastructure that focused on the traditional economics of a project. There is little coverage of life-cycle costing as a method to evaluate the criteria and assess the economic implications of pursuing sustainability in road infrastructure projects. To rectify this problem, this paper reviews the theoretical basis of previous LCCA models before discussing their inability to determinate the sustainability indicators in road infrastructure project. It then introduces an on-going research aimed at developing a new model to integrate the various new cost elements based on the sustainability indicators with the traditional and proven LCCA approach. It is expected that the research will generate a working model for sustainability based life-cycle cost analysis.

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ID Code: 32568
Item Type: Conference Paper
Additional URLs:
Keywords: Sustainability, life-cycle costing analysis, road infrastructure, economics
ISSN: 9781741072709
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 2009 Faculty of Built Environment and Engineering, Queensland University of Technology
Deposited On: 15 Jun 2010 09:48
Last Modified: 28 Mar 2013 14:59

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