Managing financial implications for sustainable highway infrastructure delivery

Goh, Kai Chen & Yang, Jay (2011) Managing financial implications for sustainable highway infrastructure delivery. In Wang, Yaowu, Pang, Yongshi, & Shen, G.Q.P. (Eds.) Proceedings of 2011 International Conference on Construction & Real Estate Management, China Architecture & Building Press, Guangzhou University Business Hotel, Guangzhou, China, pp. 347-352.

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Abstract

Highway construction works have significant bearings on all aspects of sustainability. As they typically involve huge capital funds, stakeholders tend to place all interests on the financial justifications of the project, especially when embedding sustainability principles and practices may demand significant initial investment. Increasing public awareness and government policies demand that infrastructure projects respond to environmental challenges and people start to realise the negative consequences of not to pursue sustainability. Stakeholders are now keen to identify sustainable alternatives and financial implications of including them on a whole lifecycle basis. Therefore tools that aid the evaluation of investment options, such as provision of environmentally sustainable features in roads and highways, are highly desirable. Life-cycle cost analysis (LCCA) is generally recognised as a valuable approach for investment decision making for construction works. However to date it has limited application because the current LCCA models tend to focus on economic issues alone and are not able to deal with sustainability factors. This paper reports a research on identifying sustainability related factors in highway construction projects, in quantitative and qualitative forms of a multi-criteria analysis. These factors are then incorporated into existing LCCA models to produce a new sustainability based LCCA model with cost elements specific to sustainability measures. This presents highway project stakeholders a practical tool to evaluate investment decisions and reach an optimum balance between financial viability and sustainability deliverables.

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ID Code: 47775
Item Type: Conference Paper
Refereed: Yes
Keywords: Highway Infrastructure, Cost Analysis, Life-Cycle, Sustainability
ISBN: 9787112137015
Subjects: Australian and New Zealand Standard Research Classification > ENGINEERING (090000) > CIVIL ENGINEERING (090500) > Infrastructure Engineering and Asset Management (090505)
Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > BUILDING (120200) > Building Construction Management and Project Planning (120201)
Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Past > Schools > School of Urban Development
Copyright Owner: Copyright 2011 China Architecture & Building Press
Deposited On: 20 Dec 2011 22:57
Last Modified: 22 Jan 2012 01:31

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