Life-Cycle Cost Analysis: Step 4 - Estimate Cost to Repair Damage
HISTORIC AND HEC-17 APPROACH
For all costs use today's dollars. This is known as the Real Cost.
- Historic costs must be adjusted to today's dollars using a construction cost index. The cost to repair current and future damage must be estimated using today's dollars.
- Include all pertinent costs:
- Environmental clearance, mitigation, and permits
- Preliminary engineering
- Construction engineering
- Emergency and permanent repairs
- Provide a detailed cost estimate that includes all major construction items, quantities, and unit prices
- Traffic control
- Do not include:
- The cost to repair damage normally funded by the facility owner
- Heavy maintenance
- Repairs normally required to address long-term pre-existing conditions
- Rehabilitation due to normal wear or weathering such as resurfacing or repainting
- Economic impacts or user costs.
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