Forecasting the Financial Needs for Transportation Assets – LCC Model

Once you are done editing, you may close this tab.
Note: Please save any changes made to the fields above before adding new authors, supporting organizations, or potential panel members to this statement.
Author(s)
Please add at least one author.
Others Supporting Problem Statement
Please add at least one supporting organization.
Potential Panel Members
Please add at least one potential panel member.

Forecasting the Financial Needs for Transportation Assets – LCC Model


Funding

$150,000

Research Period

18 months

Description

With the current financial state and shrinkage of resources, there is an urgent need to know what is the value and future cost of maintaining assets. Maintaining assets have an obvious value, but there is a cost associated with both choosing to maintain assets, as well as a cost associated with choosing not to do so. Attempting to determine the expected long-term costs of maintaining an asset, as well as the predicted value of having a well-maintained asset, is a considerable challenge for a transportation agency.


Literature Search Summary

Please provide a literature summary for the project.

Objectives

The objective for this research is to examine the costs and value associated with maintaining assets, and then to develop a usable model for forecasting the cost and value. Such a model must include, but not be limited to:
• A framework for quantitatively assessing the value of an asset that has been properly maintained.
• A tool for calculating the long-term costs of maintaining an asset, in line with industry standards for safety and reliability.
In addition to developing the model, the research should also establish guidance targeted at helping practitioners conduct forecasting analyses and communicate the results.


Urgency and Potential Benefits

Please describe the urgency and potential benefits of the project.

Implementation Considerations

Please provide implementation considerations for the project.

Author(s)

Please add at least one author.

Others Supporting Problem Statement

Please add at least one supporting organization.

Potential Panel Members

Please add at least one potential panel member.

Person Submitting Statement

Please add information about the person submitting the statement.

Notes


Leave a Reply

Your email address will not be published. Required fields are marked *