• Title/Summary/Keyword: expected total life cycle cost

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Development of Stochastic Decision Model for Estimation of Optimal In-depth Inspection Period of Harbor Structures (항만 구조물의 최적 정밀점검 시기 추정을 위한 추계학적 결정모형의 개발)

  • Lee, Cheol-Eung
    • Journal of Korean Society of Coastal and Ocean Engineers
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    • v.28 no.2
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    • pp.63-72
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    • 2016
  • An expected-discounted cost model based on RRP(Renewal Reward Process), referred to as a stochastic decision model, has been developed to estimate the optimal period of in-depth inspection which is one of critical issues in the life-cycle maintenance management of harbor structures such as rubble-mound breakwaters. A mathematical model, which is a function of the probability distribution of the service-life, has been formulated by simultaneously adopting PIM(Periodic Inspection and Maintenance) and CBIM(Condition-Based Inspection and Maintenance) policies so as to resolve limitations of other models, also all the costs in the model associated with monitoring and repair have been discounted with time. From both an analytical solution derived in this paper under the condition in which a failure rate function is a constant and the sensitivity analyses for the variety of different distribution functions and conditions, it has been confirmed that the present solution is more versatile than the existing solution suggested in a very simplified setting. Additionally, even in that case which the probability distribution of the service-life is estimated through the stochastic process, the present model is of course also well suited to interpret the nonlinearity of deterioration process. In particular, a MCS(Monte-Carlo Simulation)-based sample path method has been used to evaluate the parameters of a damage intensity function in stochastic process. Finally, the present stochastic decision model can satisfactorily be applied to armor units of rubble mound breakwaters. The optimal periods of in-depth inspection of rubble-mound breakwaters can be determined by minimizing the expected total cost rate with respect to the behavioral feature of damage process, the level of serviceability limit, and the consequence of that structure.

A Case Study on Economic Analysis of a Solar Water Heating System and a Ground Source Heat Pump System Applied to a Military Building (군 복지시설의 지열시스템과 태양열시스템 경제성 평가 사례 연구)

  • Lee, Jong-Chan;Park, Young-Ho;Lee, Ghang;Lee, Sang-Ho
    • Korean Journal of Construction Engineering and Management
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    • v.10 no.4
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    • pp.111-118
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    • 2009
  • This study is to analyze the performance of SWH(Solar Water Heating) and GSHP(Ground Source Heat Pump) systems by evaluating their energy efficiency and LCC(Life Cycle Cost) as being applied to the OO hall as a selected building in the Army. The OO hall, used as bathrooms, dining rooms, accommodations and offices, has reinforced concrete structure system with three floors above the ground and one underground, and its total floor area is approximately 2,917$m^2$. Two energy simulations are conducted to predict the yearly cooling and heating energy of the selected building: One is for analysis of an air-conditioning energy consumption using the e-Quest program, and another is for two new-renewable energy facilities as a water heating source using the RETScreen. The installed capacity of two new-renewable energy facilities is determined according to the 5% level of total standard construction cost. As a briefly result, SWH system is more energy-effective than GSHP system. Considering the break-even point, it is expected that SWH can take only 3 years 11 months to pay for itself in savings while the investment of GSHP can be recovered in more than 16 years 6 months.

Effectiveness Analysis and Application of Phosphorescent Pavement Markings for Improving Visibility (축광노면표시 시인성 개선에 따른 경제성 분석 및 적용방안)

  • Yi, Yongju;Lee, Kyujin;Kim, Sangtae;Choi, Keechoo
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.37 no.5
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    • pp.815-825
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    • 2017
  • Visibility of lane marking is impaired at night or in the rain, which thereby threatens traffic safety. Recently, various studies and technologies have been developed to improve lane marking visibility, such as the extension of lane marking life expectancy (up to 1.5 times), improvement of lane marking equipment productivity, improvement of lane marking visibility by applying phosphorescent material mixed paint. Cost-benefit analysis was performed with considering various benefit items that can be expected. About 45% of traffic accidents would be prevented by improving lane marking visibility. Additionally, accident reduction benefit and traffic congestion reduction benefit were calculated as much as 246 billion KRW per year and 12 billion KRW per year, respectively, by reducing repaint cycle due to enhanced durability. 45 billion KRW per year is expected to reduced with improved lane detection performance of autonomous vehicle. Meanwhile, total increased cost when introducing phosphorescent material mixed paint to 91,195km of nationwide road is identified as 1922 billion KRW per year. However, economic feasibility could not be secured with 0.16 of cost-benefit ratio when applied to the road network as a whole. In case of "Accident Hot Spot" analyzing section window (400m), one or more fatality or two or more injured (one or more injured in case of less than 2 lanes per direction) per year were caused by pavement marking related accident, economic feasibility was secured. In detail, 3.91 of cost-benefit ratio is estimated with comparison of the installation cost for 5,697 of accident hot spot and accident reduction benefit. Some limitations and future research agenda have also been discussed.