Browsing by Subject "Cost management"
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Item Fleet Asset Life Cycle Costing with Intelligent Vehicles(Center for Transportation Studies, University of Minnesota, 2008-08) Wyrick, David A.; Erquicia, SantiagoLife cycle costing seeks to find the optimum economic life of a particular asset considering acquisition, maintenance, operational, and disposal costs over the time it is held. The economic life can vary depending on interest rates, depreciation, maintenance, and overhead. A model was built to calculate economic life cycles for four classes of passenger cars and three classes of motor trucks and truck tractors within Minnesota’s Department of Transportation using data from the M4 information system. For class 330 snowplows in Districts 1 and 6, cost data from M4 regularly were under-reported in comparison to the Minnesota Accounting Procurement System (MAPS) from previous work. Due to high uncertainty of input data integrity in M4, various sensitivity analyses were run. Results included families of cost curves to estimate optimal life cycles for varying cost parameters. A key finding is that data may not be recorded fully, accurately, or assigned to the correct asset, indicating the need for automating as much future data collection as possible. With good data, decision makers can determine how long assets should be kept and maintained in general as a fleet, keeping in mind that results from this model are not indicative of any single unit.Item Proceedings: Cost Estimating and Cost Management Capacity Building Workshop(Center for Transportation Studies, University of Minnesota, 2010-08) Center for Transportation StudiesIn this workshop, participants heard presentations from the Federal Highway Administration (FHWA), the American Association of State Highway and Transportation Officials (AASHTO), and various state departments of transportation (DOTs) on the state of best practices in risk management and risk assessment. The event also featured small- and large-group discussions aimed at developing an action plan and research agenda by the event's end. This document summarizes the presentations and discussions from the workshop held August 11-13, 2010 in Minneapolis, MN.Item Summary of Cost Estimating and Cost Management Capacity Building Workshops(Center for Transportation Studies, University of Minnesota, 2008-09) Center for Transportation StudiesThis document summarizes the presentations and discussions from two workshops: Cost Estimating and Cost Management in the Planning Process Capacity Building Workshop was held in November 2007, and Cost Estimating and Cost Management in the Design and Project Development Process Capacity Building Workshop was held in April 2008. The workshops utilized the results of the National Cooperative Highway Research Program (NCHRP) 8-49 Project titled Procedures for Cost Estimation and Management for Highway Projects During Planning, Programming, and Preconstruction. The objectives of the workshops were 1) to build expertise and capacity for planning and engineering professionals to implement the NCHRP Report 574 guidebook on cost estimating and cost management; 2) to learn how states are moving forward with the implementation of the guidebook or or other initiatives related to cost estimating and cost management; and 3) to share advances and lessons learned from other states' initiatives on cost estimating.