|Accelerating Infrastructure Innovations|
|Federal Highway Administration > Publications > Focus > May 2009 > The Fundamentals of Life Cycle Cost Analysis|
|Publication Number: FHWA-HRT-09-013
Date: May 2009
The Fundamentals of Life Cycle Cost Analysis
Get to know the "Fundamentals of Life Cycle Cost Analysis" in the Federal Highway Administration's (FHWA) new online course. Available through FHWA's National Highway Institute (NHI), this free 6-hour training (Course No. FHWA-NHI-131113) is comprised of two live Web conference presentations and a Web-based independent study module.
The course covers the basic terminology, concepts, and processes of life cycle cost analysis (LCCA). "This course provides a critical foundation in LCCA, as well as prepares participants for FHWA's follow-up Real Cost LCCA Software Onsite Implementation Workshop," says Nathaniel Coley, Jr., of FHWA.
Both deterministic and probabilistic LCCA are presented in the course. Topics discussed include factors to consider when calculating user costs for a transportation project, including operating conditions, the effects of traffic and congestion, and cost components. Also featured is how to use probability and simulation to better understand risk in the decisionmaking process, as well as how to quantify risk and mitigate its effects. Additional topics include data preparation, variability, Monte Carlo simulation, and other statistical tools. A demonstration of how to apply LCCA is provided, using FHWA's RealCost LCCA software.
The training is targeted at design, maintenance, and materials engineers; finance managers; programming personnel; management systems personnel; and planners and materials engineers. Proficiency in basic math skills is required. Participants needing to review basic math skills should consider completing NHI's free online Transportation Curriculum Coordination Council Math Module (Course No. FHWA-NHI-134072) before signing up for the Fundamentals of Life Cycle Cost Analysis course.
For more information on scheduling the course, contact the NHI scheduler at 703-235-0534 (email: NHITraining@fhwa.dot.gov), or visit www.nhi.fhwa.dot.gov. Sessions are currently scheduled to begin June 9, July 28, August 11, and September 15. To learn more about this course or the FHWA RealCost LCCA Software Onsite Implementation Workshop, contact Nathaniel Coley, Jr., at FHWA, 202-366-2171 (email: firstname.lastname@example.org). For additional LCCA resources and details on the RealCost software, visit www.fhwa.dot.gov/infrastructure/asstmgmt/lcca.cfm. The free software can be downloaded from the site, along with FHWA's Life-Cycle Cost Analysis Primer (Pub. No. FHWA-IF-02-047) and other LCCA publications.
United States Department of Transportation - Federal Highway Administration