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The financing of modern construction projects reflects the need to
address the costs and benefits of the whole life of the project.
This means that end of life economics can now have a far greater
impact on the planning and feasibility phases. During the project
itself, decisions on construction materials and processes all
influence the schedule as well as both immediate and down-the-line
costs. Massimo Pica and his co-authors explain in detail the
fundamentals of project life cycle economics and how they apply in
the context of complex modern construction. This is an essential
guide for those involved in construction project design, tendering
and contracting; to help ensure the sustainability of the project
or their contribution to it, from the start. It is also important
for those involved in the delivery of the project to help them make
the choices to keep the project on a financial even keel.
Government, corporations and other organizations are looking for
new models of collaborative working to fund their large
construction and infrastructure projects in the face of changing
attitudes to risk; a better educated and more demanding base of
end-user clients and the increasing requirements for projects that
are environmentally responsible and sustainable. Project Life Cycle
Economics is a fundamental primer for those commissioning and those
delivering construction.
Traditional costing models for new systems and new buildings in
industry, defence or government, have tended to focus on the costs
of acquisition and implementation, with scant regard for the costs
of running the system or decommissioning after use. The pressure to
minimize expenditure and provide value for money from reduced
resources means that complex projects have to encompass a wide
range of often conflicting issues and interests. Systems Lifecycle
Cost-Effectiveness shows how to manage the difficulties that can
arise. Optimizing the system lifecycle cost-effectiveness is
complex and influenced by many factors. Massimo Pica presents a
variety of models for calculating cost, benefits and risk in
projects, and explains how the human factors associated with a
system's design and consequent value are as important as the
technical costs associated with its construction or creation. This
comprehensive text can be used by students, experienced system
engineers, cost analysts and managers to improve their
understanding of the wide range of issues involved in the
evaluation of system life cycle cost-effectiveness.
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