Noshadravan, A; Miller, T R and Gregory, J G (2017) A lifecycle cost analysis of residential buildings including natural hazard risk. Journal of Construction Engineering and Management, 143(7): 04017017, ISSN 0733-9364
Abstract
Despite isolated efforts in the cost assessment of design strategies for energy-efficient and resilient buildings, there is still a need for an integrated assessment that incorporates major expected costs over the entire lifecycle of the building for more comprehensive cost-benefit analysis. The main goal of this paper is to broaden the scope of cost-effectiveness estimates for residential buildings by analyzing the expected costs of damage due to natural hazards in the context of other lifecycle costs. Specifically, the lifecycle cost analysis presented here includes the expected cost of repair due to earthquake and hurricane hazards as well as the energy consumption, in addition to the initial construction, routine maintenance, and home improvement. A case study is presented for a single-family, wood-frame residential building at two levels of hazard-resistant design. The overall expected lifecycle cost is estimated in terms of decision-relevant economic measures. The application of the approach to the case study under different scenarios produces some interesting insights about the sensitivity of the comparative cost analysis to different scenarios regarding the locations, future values, and economic measure of comparison.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cost and schedule; damage assessment; lifecycle costs; low-rise buildings; natural hazards |
| Index terms: | estimate, earthquake, energy consumption, damage assessment, lifecycle, wood, residential building, case study, repair, natural hazard, cost analysis, cost-effectivenes, routine, design strategy |
| Subjects: | economics, maintenance engineering, traditional and composite building materials, structural engineering, sociology, environmental hazards, construction type, data collection methods, design methods, project delivery, financial and cost management, energy systems |
| Topics: | Design Practice, Organizational Design, Cost Management, Business Strategy, Project Management, Research Practice, Construction Materials, Engineering Principles, Construction Technology, Sustainability |
| Descriptive scope: | 3 PCE |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here