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Whole life-cycle costing (WLCC) is rapidly becoming the standard method for the long-term cost appraisal of buildings and civil infrastructure projects. With clients now demanding buildings that demonstrate value for money over the long term, WLCC has become an essential tool for those involved in the design, construction, operation and risk analysis of construction projects. Whole-life costing: risk and risk responses offers a thorough grounding in both the theory and practical application of WLCC. Part I deals with the fundamentals, providing the general background to appreciate WLCC concepts and whole life risk management techniques at the key decision-making milestones through a project’s life. Part II covers the design stage, including service life forecasting and environmental life-cycle assessment techniques in WLCC. Practical frameworks both for assessing whole life risks and risk responses, as well as guidance on developing WLCC budget estimates are also developed. In Part III, the authors consider WLCC during the construction and operations stages, with a strong emphasis upon risk analysis methods and dynamic WLCC assessment. With its mixture of established theory, best practice and innovative approaches, this book will help you make more accurate assessments of the long-term cost effectiveness of projects by: providing a thorough grounding in the theory of WLCC demonstrating how decision-making uncertainty can be reduced by basing choices on sound risk management principles identifying a systematic approach to planning the post-occupancy costs.
Value management evaluates alternative construction materials and systems with a view to saving money without impacting on building performance or the construction programme. It has become a well established tool in the construction industry, having been endorsed in a range of government sponsored reports. In the current economic climate, clients are increasingly looking to employ value management as a way of ensuring they generate maximum value from their investments.+ Since publication of the first edition in 2004, value management has developed significantly. The second edition retains the structure of the first edition, covering methods and practices, frameworks of value and the future of value management, but has been thoroughly updated with new material and several new chapters to ensure it reflects current theory and practice. In particular, the new edition responds to: Recent publications, most notably the imminent update of British Standard BS EN 12973:2000 Value Management; the change to "Value for Europe" governing training and certification in EU countries; and the recent publication of the UK government OGC, Management of Value (MoV) initiative Research in value management undertaken since publication of the first edition Changes in value management practice particularly in programmes and projects. Developments in the theory of value, principally value for money measures, whole life value option appraisal, and benefits realisation New asset management initiatives covering the management of physical infrastructure, for example BSi PAS55 2008 “Asset management: Specification for the optimized management of physical assets” Appendices again include a tool box and additional generic case studies to illustrate value practice.
Cradle-to-grave analyses are becoming the norm, as an increasing amount of corporations and government agencies are basing their procurement decisions not only on initial costs but also on life cycle costs. And while life cycle costing has been covered in journals and conference proceedings, few, if any, books have gathered this information into an easily accessible resource. Eliminating the need to consult many different sources, Life Cycle Costing for Engineers brings together up-to-date life cycle costing concepts and explains their application in various industrial sectors. The author sets the scene with a chapter on fundamental economics followed by a chapter on reliability and maintainability, providing background information and platform for further understanding. He then discusses life cycle costing fundamentals, models and estimation methods, reliability, quality, safety, and manufacturing costing, and maintenance, maintainability, usability, and warranty costing. The book includes life cycle costing for computer systems and software, transportation systems, aircraft turbine engines, cargo ships, rail systems, civil engineering structures, and energy systems. An in-depth look at cost estimation models and engineering reliability and maintainability topics such as bathtub hazard rate curve, common reliability networks, general reliability, mean time to failure, and hazard rate formulas round out the coverage. Filled with examples, tables, figures, and equations, this book integrates life cycle costing concepts for use in industrial and other sectors. It provides a modern treatment of the subject that can easily be applied to any industry.
This topical and timely book presents and innovative approach to dealing with the complexities of cost planning in PFI. PFI/PPP projects have a significantly different costing environment from conventionally procured projects, requiring cost analysts to use their expertise and innovative thinking to develop whole-life cost solutions that deliver value for money to the client, thus improving public building assets performance. Abdelhalim Boussabaine provides a thorough grounding in the theory of PFI, from its early evolution through to examples of current projects. In particular, the rationale for private financing of public services, arguments for and against PFI and 'value for money' mechanisms are discussed. The book presents an innovative framework for whole-life value and calls for changes in the way whole life cycle value is perceived, created and exchanged. Cost Planning of PFI and PPP Building Projects provides the reader with existing knowledge as well as present innovative thinking for future development and management of PFI/PPP cost planning processes. Given the importance and novelty of this book, academics, professionals, undergraduate and postgraduate students will find this book valuable.
This new edition of the classic quantity surveying textbook retains its basic structure but has been thoroughly updated to reflect recent changes in the industry, especially in procurement. Although over the last 20 years a number of new procurement methods have evolved and become adopted, the recession has seen many clients revert to established traditional methods of procurement so the fundamentals of cost planning still apply – and should not be ignored. The first edition of this leading textbook was published in 1964 and it continues to provide a comprehensive introduction to the practice and procedures of cost planning in the procurement of buildings. This 9th edition has been thoroughly updated to reflect changes that have occurred in the UK construction industry in the past six years. Whilst retaining its core structure of the three–phase cost planning process originally developed by Ferry and Brandon, the text provides a thorough grounding in contemporary issues including procurement innovation, whole life cycle costing and modelling techniques. Designed to support the core cost planning studies covered by students reading for degrees in quantity surveying and construction management, it provides a platform for understanding the fundamental importance of effective cost planning practice. The principals of elemental cost planning are covered from both pre– and post– contract perspectives; the role of effective briefing and client/stakeholder engagement as best practice is also reinforced in this text. This new edition: Addresses The Soft Landings Framework (a new govt. initiative, especially for schools) to make buildings perform radically better and much more sustainably. Puts focus on actual performance in use at brief stage, during design and construction, and especially before and after handover. Covers recent changes in procurement, especially under the NEC and PFI Provides more on PPP and long–term maintenance issues Offers an improved companion website with tutorial worksheets for lecturers and Interactive spreadsheets for students, e.g. development appraisal models; lifecycle costing models
This new edition of the classic quantity surveying textbook retains its basic structure but has been thoroughly updated to reflect recent changes in the industry, especially in procurement. Although over the last 20 years a number of new procurement methods have evolved and become adopted, the recession has seen many clients revert to established traditional methods of procurement so the fundamentals of cost planning still apply - and should not be ignored. The first edition of this leading textbook was published in 1964 and it continues to provide a comprehensive introduction to the practice and procedures of cost planning in the procurement of buildings. This 9th edition has been thoroughly updated to reflect changes that have occurred in the UK construction industry in the past six years. Whilst retaining its core structure of the three-phase cost planning process originally developed by Ferry and Brandon, the text provides a thorough grounding in contemporary issues including procurement innovation, whole life cycle costing and modelling techniques. Designed to support the core cost planning studies covered by students reading for degrees in quantity surveying and construction management, it provides a platform for understanding the fundamental importance of effective cost planning practice. The principals of elemental cost planning are covered from both pre- and post- contract perspectives; the role of effective briefing and client/stakeholder engagement as best practice is also reinforced in this text. This new edition: Addresses The Soft Landings Framework (a new govt. initiative, especially for schools) to make buildings perform radically better and much more sustainably. Puts focus on actual performance in use at brief stage, during design and construction, and especially before and after handover. Covers recent changes in procurement, especially under the NEC and PFI Provides more on PPP and long-term maintenance issues Offers an improved companion website with tutorial worksheets for lecturers and Interactive spreadsheets for students, e.g. development appraisal models; lifecycle costing models

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