ASTM-F1675 Standard Practice for Life-Cycle Cost Analysis of Plastic Pipe Used for Culverts, Storm Sewers, and Other Buried Conduits

ASTM-F1675 - 2013 R17 EDITION - CURRENT
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Standard Practice for Life-Cycle Cost Analysis of Plastic Pipe Used for Culverts, Storm Sewers, and Other Buried Conduits
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Scope

1.1 This practice establishes a procedure for using life cycle cost (LCC) analysis techniques to evaluate alternative drainage system designs, using plastic pipe that satisfy the same functional requirements.

1.2 The LCC technique measures the present value of all relevant costs to install, operate, and maintain alternative drainage systems such as engineering, construction, maintenance, rehabilitation, or replacement over a specified period of time. The practice also accommodates any remaining residual or salvage value.

1.3 The decision maker, using the results of the LCC analysis, can then identify the alternative(s) with the lowest estimated total cost based on the present value of all costs.

1.4 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety and health practices and determine the applicability of regulatory limitations prior to use.

1.5 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

Significance and Use

5.1 LCC analysis is an economic method to evaluate alternatives that are characterized by differing cash flows over the designated project design life. The method entails calculating the LCC of each alternative capable of satisfying the functional requirements of the project and comparing them to determine which have the lowest estimated LCC over the project design life.

5.2 The LCC method is particularly suitable for determining whether the higher initial cost of an alternative is economically justified by reductions in future costs (for example, operating maintenance, rehabilitation, or replacement) when compared to an alternative with lower initial costs but higher future costs. If a design alternative has both a lower initial cost and lower future costs than other alternatives, an LCC analysis is not necessary to show the former is the economically preferable choice.

Keywords

cost analysis; discount rate; drainage system; engineering economics; least cost; life-cycle cost; material service life; present value analysis; project design life;; ICS Number Code 03.100.50 (Production. Production management); 23.040.20 (Plastic pipes)

To find similar documents by ASTM Volume:

08.04 (Plastic Piping Systems)

To find similar documents by classification:

03.100.50 (Production. Production management)

23.040.20 (Plastics pipes)

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Document Number

ASTM-F1675-13(2017)

Revision Level

2013 R17 EDITION

Status

Current

Modification Type

Reapproval

Publication Date

Aug. 15, 2017

Document Type

Practice

Page Count

4 pages

Committee Number

F17.62