Simulation as a tool for life cycle cost analysis

Abstract

Life cycle cost is an essential approach to decide on alternative rehabilitation strategies for infrastructure systems. Monte Carlo simulation approach is used to develop a stochastic life cycle cost (SLCC) model and methodology in order to compare different rehabilitation scenarios/ alternatives for infrastructures, such as water mains. The presented research in this paper identifies several rehabilitation methods for water mains, which are classified into three main categories: repair, renovation, and replacement. The developed model helps academics and practitioners (e.g. municipal engineers) to predict the suitable new installation and/or rehabilitation programs as well as their corresponding costs, thereby, to avoid any unpleasant surprises.