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New Generation Whole-Life Costing : Property and Construction Decision-Making Under Uncertainty - Ian Ellingham

New Generation Whole-Life Costing

Property and Construction Decision-Making Under Uncertainty

Hardcover Published: 11th July 2006
ISBN: 9780415346573
Number Of Pages: 224

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New Generation Whole-Life Costing presents an innovative approach to decision-making and risk management for construction and real estate. It applies the options-based approach that has revolutionized the management of uncertainty in the business world. Based on government-sponsored research at Cambridge Architectural Research Ltd., the book introduces the idea of 'lifecycle options'.

The desirability of whole-life costing is widely accepted, but take-up levels have been low. One problem is that traditional techniques fail to take account of future uncertainty. In contrast, the new options-based approach considers a diversity of possible futures, and favours flexible strategies that incorporate lifecycle options. This approach leads to more cost-effective and sustainable decisions, minimizing the risk of under- or over-investment.

This book is structured around realistic case studies that demonstrate the prevalence of lifecycle options. These case studies are backed up by clear presentation of basic principles and mathematical techniques allowing the book to be read either as a stimulating introduction to new concepts, or as a guide to mathematical methods.

Industry Reviews

'The book certainly brings to attention the merits of WLC and how surprising the current lack of use of WLC techniques in the industry is.' - David Adamson (Director of Smarter Construction, Office of Government Commerce)

'A real breath of fresh air and a source of some important new ideas.'
'Whole-life costing could be as dull as the worthy ISO standard. This book is visually a delight ... the narrative is full of lively examples and visual snapshots of case studies. Thoroughly recommended for courses ... and clients and agents and designers alike.'
- David Fisk (Professor of Engineering for Sustainable Development, Imperial College, London)

'The book is full of many good ideas ... I would recommend it to property managers and surveyors involved in value management.' - David Wright (Associate at Currie & Brown)

'A very interesting and rich perspective that will assist practitioners in taking a longer-term view. ...An extremely pleasant and accessible book.' - Niklaus Kohler in, Building Research & Information

Introduction and acknowledgments Foreword
The rationale for project evaluation
Evaluating long term projects
Evaluating risk projects
Data for whole-life costing
Lifecycle options
The option to develop
The option to expand
The option to switch use
The option to reconfigure
The option to refurbish
Options on new technology
Very long term projects
Long-term budgeting under uncertainty
Self-assessment matrix for whole-life evaluation Where to find out more
Index
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780415346573
ISBN-10: 0415346576
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 224
Published: 11th July 2006
Publisher: Taylor & Francis Ltd
Country of Publication: GB
Dimensions (cm): 24.8 x 19.1  x 1.91
Weight (kg): 0.59
Edition Number: 1

Earn 602 Qantas Points
on this Book