Economic optimization for the rehabilitation of co-located mixed assets

Abstract

Managing the rehabilitation of co-located infrastructure assets (pavements, pipelines, culverts, etc.) has become a major challenge for municipalities due to the varying rehabilitation requirements of these assets and the need for better coordination of rehabilitation works. Yet, most of the existing fund-allocation methods are not structured to address co-located infrastructure rehabilitation work in a systematic manner. This paper, therefore, extends the enhanced benefit-cost analysis (EBCA) optimization method that was developed earlier for a single asset type, to the case of co-located assets. The extended EBCA approach arrives at near-optimum funding decisions by achieving an equilibrium state at which fair and equitable allocations are made among all asset categories. Using a real case study consisting of bridges and culverts co-located in the right of way of a pavement network along with two different implementation strategies, EBCA proved to be able to arrive at near-optimum fund-allocations supported with a credible economic justification.