Read more
Informationen zum Autor Roger Flanagan is the author of Whole Life Appraisal for Construction, published by Wiley. Carol Jewell is the author of Whole Life Appraisal for Construction, published by Wiley. Klappentext Whole life appraisal entails a review not just of the capital costs of a project, but also the running and maintenance costs and is increasingly being required by clients seeking maximum value for money. This new book provides an introduction to the subject, discusses issues such as investment appraisal and life expectancy of components, and shows by means of case studies how to carry out a whole life appraisal. Zusammenfassung Whole life appraisal is a valuable tool that considers both cost and performance over the whole life of a facility and involves balancing the capital costs against the future operating and maintenance costs! whether it is a school! a road! an airport or a power plant. Inhaltsverzeichnis Acknowledgements vii Preface viii 1 Whole life appraisal - an introduction 1 1.1 Objective 1 1.2 What is whole life appraisal (WLA)? 1 1.3 Why bother with whole life appraisal? 2 1.4 Is whole life appraisal different to whole life costing (WLC)? 2 1.5 Who uses WLA and WLC? 2 1.6 When should WLA be undertaken? 3 1.7 What is the link between best value and best price? 3 1.8 Nobody can accurately forecast the future, so how reliable are the results of a whole life appraisal exercise? 4 1.9 How can money spent at different times over the life of a facility be incorporated into WLA? 4 1.10 What discount rate should be used? 4 1.11 How is inflation taken into account in the calculations 5 1.12 Why isn't WLA used more widely? 5 1.13 So why bother now with WLA? 6 1.14 Has the computer made a difference to the calculation of WLA? 7 1.15 What has happened overseas? 7 1.16 The whole process seems to be surrounded by jargon; how can WLA be made simpler to understand? 8 1.17 Where does sustainability fit with WLA? 8 1.18 Have the Construction Design and Management Regulations (CDM) 1994 changed the way whole life issues are considered? 8 1.19 How does WLA fit with facilities/asset management 9 1.20 What is service life planning? 9 1.21 Integrated Logistic Support (ILS) is a term used by the defence and aerospace industries; is WLA used in ILS? 9 1.22 What is the difference between running costs and operating and maintenance costs? 10 1.23 How does the residual value work? 10 1.24 Should disruption costs be included in the WLA? 10 2 Whole life appraisal: preliminary concepts 11 2.1 Introduction 11 2.2 Whole life appraisal and construction 15 2.3 Performance of systems, components and materials 17 2.4 Design with whole life appraisal 18 2.5 Whole life appraisal for new and old facilities 20 3 An overview of whole life appraisal 23 3.1 The importance of whole life appraisal 23 3.2 The adoption of whole life appraisal 23 3.3 The balance between fixed and variable costs 26 3.4 Different client motivations for the use of whole life appraisal 30 3.5 The implementation of a whole life appraisal system 34 3.6 The output of whole life appraisal 40 3.7 Some unresolved problems 44 4 Whole life appraisal at the planning and design stage 45 4.1 Introduction 45 4.2 The components of whole life appraisal 48 4.3 Whole life costing and cost management 54 4.4 Appendix to Chapter 4 58 5 Discounting and the time value of money 65 5.1 Introduction 65 5.2 Discounting 67 5.3 Choosing between alternative options 78 5.4 Internal rate of return (IRR) 83 5.5 Inflation 84 5.6 Risk, uncertainty and...
