Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
The full life cycle costs of a bridge include initial costs, maintenance costs, rehabilitation costs, disposal costs and the oftentimes overlooked cost to society. In most cases, the latter – cost to the society – is typically not considered by estimators. Establishing the cost of a bridge is only half of the equation. The resulting amount alone cannot compare with what the bridge provides to society, that is its value. The value of a bridge encompasses a range of qualities including its functional value, societal value, symbolic value and aesthetic value. The economic feasibility of a bridge project depends on the balance between its cost and its value. The decision to build or not to build a bridge must be based on whether the cost to build it is more or less than the value the bridge holds for people. If the cost is higher, the bridge should not be built. If the value is higher, building the bridge is reasonable.
The full life cycle costs of a bridge include initial costs, maintenance costs, rehabilitation costs, disposal costs and the oftentimes overlooked cost to society. In most cases, the latter – cost to the society – is typically not considered by estimators. Establishing the cost of a bridge is only half of the equation. The resulting amount alone cannot compare with what the bridge provides to society, that is its value. The value of a bridge encompasses a range of qualities including its functional value, societal value, symbolic value and aesthetic value. The economic feasibility of a bridge project depends on the balance between its cost and its value. The decision to build or not to build a bridge must be based on whether the cost to build it is more or less than the value the bridge holds for people. If the cost is higher, the bridge should not be built. If the value is higher, building the bridge is reasonable.
Value versus cost
Tang, Man-Chung (Autor:in)
Structure and Infrastructure Engineering ; 10 ; 844-848
03.07.2014
5 pages
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
| Online Contents | 2014
Pricing: Cost of Service Versus Value of Water
| Wiley | 2024
Pricing: Cost of Service Versus Value of Water
| Wiley | 2024
Cost versus Value - The role of the Consulting Structural Engineer
British Library Online Contents | 2012
Supporting the inception stage of building projects with real-time value versus cost evaluations
| British Library Conference Proceedings | 2000