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Title:

LIFE-CYCLE COST ANALYSIS-EMBEDDED MONTE CARLO APPROACH FOR MODELING PAY ADJUSTMENT AT STATE DEPARTMENTS OF TRANSPORTATION

Accession Number:

00985975

Record Type:

Component

Availability:

Transportation Research Board Business Office

500 Fifth Street, NW
Washington, DC 20001 United States
Order URL: http://www.trb.org/Main/Public/Blurbs/155520.aspx

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Order URL: http://worldcat.org/isbn/0309094941

Abstract:

The development of a pay-adjustment procedure for implementing performance-related specifications is a difficult task for most state highway agencies because of such problem areas as selecting pay-factor items, modeling the relationship between stochastic variability of pay-factor items and pavement performance, and determining an overall lot pay adjustment. An effective way to develop a scientific pay-adjustment procedure by incorporating the life-cycle cost analysis-embedded Monte Carlo simulation (LMCS) approach was needed. Presented is an application to a real project to determine a pay adjustment by using the data in the pavement management information systems at the Wisconsin Department of Transportation as an exemplary to other state highway agencies. It was concluded that the proposed LMCS approach can effectively model an overall pay adjustment by considering both the inherent variability in pay-factor items and the interactions among individual pay-adjustment schedules. A sensitivity analysis was conducted to determine the relative importance of pay-factor items and to validate the application of the LMCS approach.

Supplemental Notes:

This paper appears in Transportation Research Record No. 1900, Construction 2004.

Monograph Title:

CONSTRUCTION 2004

Monograph Accession #:

00985965

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Choi, J-H
Bahia, H U

Pagination:

p. 86-93

Publication Date:

2004

Serial:

Transportation Research Record

Issue Number: 1900
Publisher: Transportation Research Board
ISSN: 0361-1981

ISBN:

0309094941

Features:

Figures (3) ; References (17) ; Tables (3)

Uncontrolled Terms:

Pay adjustment

Geographic Terms:

Wisconsin

Subject Areas:

Construction; Finance; Highways; Pavements; I52: Construction of Pavements and Surfacings

Files:

TRIS, TRB

Created Date:

Feb 17 2005 12:00AM

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