The Importance of Life Cycle Cost (LCC) Components for Emerging Green Costs Incurred in Green Highway Budget Preparation Decision-Making

In the journey towards sustainably preserving road infrastructures, financial planning and its asset management are essential to preserve and rejuvenate at its life cycle stages efficiently. There are many methods and efforts to integrate current practices. The road components assets’ Life Cycle Cos...

Full description

Saved in:
Bibliographic Details
Published in:IOP conference series. Earth and environmental science 2022-10, Vol.1067 (1), p.12061
Main Authors: Abd Rahman, Muhammad Faiz, Zakaria, Rozana, Shamsudin, Siti Mazzuana, Aminudin, Eeydzah, Yousif, Omar Sedeeq
Format: Article
Language:English
Subjects:
Asset management
Budgets
Decision making
Financial planning
Highway construction
Life cycle costs
Life cycles
Roads
Roads & highways
Sustainability
Citations: Items that this one cites
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:In the journey towards sustainably preserving road infrastructures, financial planning and its asset management are essential to preserve and rejuvenate at its life cycle stages efficiently. There are many methods and efforts to integrate current practices. The road components assets’ Life Cycle Cost (LCC) will have an impact in terms of more substantial cost investment since reliable cost information is rarely sufficient. The final budget of various road projects should be calculated based on the Life cycle costing, which covers both costs and revenues for the period of development until post-construction. This paper focuses on the importance of the Life cycle costing components to the green highway project, and it also responds to the sustainability of road infrastructure development literatures reported. This paper also highlights the anticipated results, leading to the identification of crucial models in creating the Life cycle costing decision-making instrument. The findings of this paper have significance in terms of encouraging stakeholders to react to green highway evolution and establish Life cycle costing as a decision-making tool.
ISSN:1755-1307
1755-1315
DOI:10.1088/1755-1315/1067/1/012061