Overview

Whole life-cycle costing (WLCC) is rapidly becoming the standard method for the long-term cost appraisal of buildings and civil infrastructure projects. With clients now demanding buildings that demonstrate value for money over the long term, WLCC has become an essential tool for those involved in the design, construction, operation and risk analysis of construction projects. Whole-life costing: risk and risk responses offers a thorough grounding in both the theory and practical application of WLCC. Part I deals with the fundamentals, providing the general background to appreciate WLCC concepts and whole life risk management techniques at the key decision-making milestones through a project’s life. Part II covers the design stage, including service life forecasting and environmental life-cycle assessment techniques in WLCC. Practical frameworks both for assessing whole life risks and risk responses, as well as guidance on developing WLCC budget estimates are also developed. In Part III, the authors consider WLCC during the construction and operations stages, with a strong emphasis upon risk analysis methods and dynamic WLCC assessment. With its mixture of established theory, best practice and innovative approaches, this book will help you make more accurate assessments of the long-term cost effectiveness of projects by: providing a thorough grounding in the theory of WLCC demonstrating how decision-making uncertainty can be reduced by basing choices on sound risk management principles identifying a systematic approach to planning the post-occupancy costs.

Full Product Details

Author:   Abdelhalim Boussabaine (University of Liverpool) ,  Richard Kirkham (Liverpool John Moores University)
Publisher:   John Wiley and Sons Ltd
Imprint:   Wiley-Blackwell
Dimensions:   Width: 17.80cm , Height: 2.00cm , Length: 25.00cm
Weight:   0.680kg
ISBN:  

9781405107860

ISBN 10:   1405107863
Pages:   272
Publication Date:   05 January 2004
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   Out of stock  
The supplier is temporarily out of stock of this item. It will be ordered for you on backorder and shipped when it becomes available.

Table of Contents

Preface xi Acknowledgements xiii Part I: Fundamentals of Whole Life-cycle Costing 1 Towards an Understanding of Whole Life-cycle Costing 3 1.1 Introduction 3 1.2 Whole life-cycle costing: a brief history 4 1.3 Defining whole life-cycle costing 7 1.4 Risk and uncertainty in WLCC 9 1.5 Subjectivity in WLCC 9 1.6 Summary 10 References 10 2 Whole Life-cycle Costing Risk Management 12 2.1 Introduction 12 2.2 Why has the construction industry failed to embrace WLCC? 12 2.3 Why risk assessment in whole life costing? 13 2.4 Data requirements in whole life-cycle costing and risk assessment 15 2.5 Specifying a comprehensive set of objectives and measures for each WLCC component 17 2.6 A framework for whole life costing risk management 22 2.7 Summary 26 References 26 3 Key Decisions in the Whole Life-cycle Costing Process 28 3.1 Introduction 28 3.2 Justification for investment and extraction of client requirements 29 3.3 Key decisions at the conceptual development stage 31 3.4 Key decisions at the detailed design stage 32 3.5 Key decisions at the production stage 33 3.6 Decisions at the operational stage 34 3.7 Decisions at the end of economic life stage 35 3.8 Summary 35 References 36 4 Fundamentals of Whole Life-cycle Cost Analysis 37 4.1 Introduction 37 4.2 Concepts of the time value of money 37 4.3 WLCC calculation models 38 4.4 Measuring economic performance in whole life-cycle costing 41 4.5 WLCC forecasting methods 49 4.6 Benchmarking and key performance indicators 52 4.7 WLCC key performance indicators 53 4.8 Summary 54 References 54 5 Whole Life Risk Analysis Techniques 56 5.1 Introduction 56 5.2 Risk analysis 56 5.3 Qualitative risk analysis 58 5.4 Risk matrices 58 5.5 Risk registers 60 5.6 Event trees 61 5.7 Influence diagrams 62 5.8 SWOT analysis 63 5.9 Brainstorming sessions 63 5.10 Quantitative risk analysis 64 5.11 Probabilistic approaches to risk 64 5.12 Simulation 71 5.13 Sensitivity analysis 74 5.14 Markov theory 74 5.15 Deterministic measures of risk 75 5.16 Mathematical and analytical techniques 77 5.17 Artificial intelligence and fuzzy set theory 78 5.18 Summary 81 References 82 Part II: Whole Life-cycle Costing: The Design Stage 6 Design Service Life Planning 87 6.1 Introduction 87 6.2 Estimation of service life for new structures 88 6.3 Estimation of the remaining service life for existing structures 95 6.4 Summary 103 References 104 7 Design Environmental Life-cycle Assessment 106 7.1 Introduction 106 7.2 Life-cycle assessment 107 7.3 Life-cycle assessment for design optimisation 110 7.4 LCA tools 112 7.5 Environmental life-cycle cost 114 7.6 Case study 117 7.7 Summary 120 Reference 121 8 Whole Life-cycle Cost Planning at the Design Stage 122 8.1 Introduction 122 8.2 Design whole life-cycle cost planning 122 8.3 An integrated framework for WLC budget estimation 123 8.4 Benchmarking WLC budgets 126 8.5 Whole life cost planning 128 8.6 Summary 141 References 141 9 Whole Life Risk and Risk Responses at Design Stage 142 9.1 Introduction 142 9.2 Design whole life risk 143 9.3 WLC risk identification and risk response measures at design/precontract stages 146 9.4 WLCC risk categorisation 154 9.5 Design WLCC risk quantification 154 9.6 Design risk response measures 159 9.7 Summary 161 References 162 10 Whole Life-cycle Costing of Mechanical and Electrical Services: a Case Study 163 10.1 Introduction 163 10.2 Modelling the whole life cost of air-conditioning systems 164 10.3 Data and methodology 166 10.4 Results and discussion 170 10.5 Summary 174 References 174 Part III: Whole Life-cycle Costing: Construction and Occupancy Stages 11 Whole Life Risk and Risk Responses at Construction Stage 179 11.1 Introduction 179 11.2 WLCC at the construction stage 179 11.3 WLCC risk during the construction stage 180 11.4 Typology of WLCC risk at the construction stage 180 11.5 Tools for allocating WLCC construction risk 187 11.6 Significance of WLCC risk at the construction stage 188 11.7 Monitoring WLCC risk throughout the construction programme 188 11.8 Construction WLCC risk responses 189 11.9 Summary 190 References 190 12 Whole Life Risk and Risk Responses at Operational Stage 191 12.1 Introduction 191 12.2 WLCC risks at operation stage 191 12.3 Identifying the WLCC operational risks 192 12.4 The maintenance cost centre 193 12.5 The energy cost centre 195 12.6 The facilities management cost centre 195 12.7 Identifying the operational stage WLCC drivers 199 12.8 Operational stage WLCC: risks and risk responses 199 12.9 Summary 204 References 204 13 Whole Life-cycle Costing during Operational Stage 205 13.1 Introduction 205 13.2 Operational stage WLCC models 206 13.3 The importance of operational costs in WLCC 206 13.4 Conceptualising the WLCC model 206 13.5 Existing WLCC models 207 13.6 Recording WLCC data during occupancy stage 208 13.7 Forecasting energy WLCC: a case study 210 13.8 New WLCC models for operational stage WLCC analysis 216 13.9 WLCC for an existing building: a case study of facilities management cost modelling 220 13.10 Summary 222 References 222 14 Whole Life Costing of Building Assets Occupancy: a Case Study 223 14.1 Introduction 223 14.2 Sources of occupancy costs 223 14.3 Set-up costs 225 14.4 Non-controllable occupancy costs 226 14.5 Controllable occupancy costs 226 14.6 Disruption costs 227 14.7 Data and methodology 229 14.8 Results and analysis 234 14.9 Summary 241 References 241 Index 243

Reviews

This book provides useful material for those not involved in the field. Building Services Journal

This book provides useful material for those not involved in the field. Building Services Journal

Author Information

Abdelhalim Boussabaine d'Ingénieur d'Etat, MSc, PhD is a Lecturer at the School of Architecture, at the University of Liverpool. He has written widely on cost modelling for researchers and professionals and is the lead author of Whole Life Cycle Costing: Risk and Risk Responses (Blackwell, 2004).

Tab Content 6

Author Website:  

Customer Reviews

Recent Reviews

No review item found!

Add your own review!

Countries Available

All regions