Life Cycle Cost Method for Safe and Effective Infrastructure Asset Management

Abstract

Existing maintenance management systems implement periodic inspections and diagnoses and perform maintenance to restore damaged facilities, making it difficult to establish a long-term and analytical budget plan. The Framework Act on Sustainable Infrastructure Management necessitates specific implementation plans for new implementation items. This study proposes a detailed method for estimating infrastructure management cost to overcome the limitations of the post-response maintenance system and establish a management plan for the Framework Act on Sustainable Infrastructure Management, considering the performance and cost effects in terms of the life cycle. The method was classified into the following stages: analysis of the performance degradation timing by deriving the performance degradation curve, analysis of proper construction methods by performance grade to establish a cost model for each member grade, representative life assessment of the establishment to determine the end-of-life of members, and analysis of optimal action timing for establishing short/mid- to long-term repair and reinforcement plans. The proposed method was applied to a water reservoir (99 reservoirs in Seoul, Korea). The performance degradation and cost prediction models for the target establishment were analyzed. The proposed method can be applied to the maintenance decision making of the management agency and is significant for efficient infrastructure maintenance.