LIFE CYCLE COSTING FOR CONSTRUCTION. CHAPTER 4. LIFE CYCLE COSTING OF HIGHWAYS

This article describes the costs that must be taken into account when considering roads over their life cycle. These costs fall into two main groups: (a) those affecting the highway agency; and (b) those affecting road users. Highway agency costs include the costs for maintenance. They also include construction costs for all new roads or for major reconstructions. The factors upon which these costs depend are listed and include geographical location and the standard of the road being built. Road user costs include vehicle operating costs, road accident costs and time costs. Other costs which need to be taken into account such as environmental costs are also mentioned. Various models for forecasting whole life costs are described briefly. These include: (a) the MIT (Massachusetts Institute of Technology) cost model; (b) the TRRL Road Investment Model (RTIM); (c) the World Bank's HDM model; (d) the UK Department of Transport's COBA and URECA models; and (e) the TRRL Whole Life Cost Model (WLCM). Examples of calculating costs are provided. For the covering abstract see IRRD 866087.