A new position paper from the Asphalt Pavement Alliance (APA) articulates an appropriate and non-biased method for life-cycle cost analysis (LCCA) that follows guidelines from the Federal Highway Administration. Many agencies are turning to LCCA as a means of evaluating the long-term economic viability of pavement designs.
"The determination of life-cycle costs of alternative pavement types is an important part of a rational means for decision making," said Jill Thomas of the Minnesota Asphalt Pavement Association, co-chair of the team that produced the document.
"With the goal of making realistic, unbiased assessments of alternative pavement types, it is important for road agencies to understand pavement economics. The new APA document covers all the most important concepts, such as net present value, discount rates, salvage value, maintenance costs, and predicted performance life," Thomas concluded.
Life-Cycle Cost Analysis: A Position Paper (order number IM-53) is available as a free download here.
The Asphalt Pavement Alliance is a coalition of the National Asphalt Pavement Association, the Asphalt Institute, and the State Asphalt Pavement Associations. The Alliance's mission is to further the use and quality of asphalt pavements. The Alliance will accomplish this through research, technology transfer, engineering, education, and innovation.