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Combining various facets of uncertainty in whole-life cost modelling

Author

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  • Mohammed Kishk

Abstract

Estimates for various parameters in a whole-life costing (WLC) exercise are obtained from different sources each with its own level and type of uncertainty. A practical procedure is developed to handle statistically significant data and expert assessments within the same whole-life costing (WLC) model calculation. First, various methods used to combine random and subjective data are critically reviewed with emphasis on their suitability to WLC modelling. This is followed by the identification of an appropriate mathematical framework into which all information and data are transformed to a common representation making their integration a straightforward task. The proposed procedure is then implemented into a computational algorithm. The efficacy of the algorithm is explained in the context of a selected example application.

Suggested Citation

  • Mohammed Kishk, 2004. "Combining various facets of uncertainty in whole-life cost modelling," Construction Management and Economics, Taylor & Francis Journals, vol. 22(4), pages 429-435.
    • Handle: RePEc:taf:conmgt:v:22:y:2004:i:4:p:429-435
    DOI: 10.1080/0144619042000176483
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    Cited by:

    1. Orlando Durán & Paulo Andrés Durán, 2018. "Activity Based Costing for Wastewater Treatment and Reuse under Uncertainty: A Fuzzy Approach," Sustainability, MDPI, vol. 10(7), pages 1-15, June.
    2. Orlando Durán & Paulo Afonso & Vinicius Minatogawa, 2020. "Analysis of Long-Term Impact of Maintenance Policy on Maintenance Capacity Using a Time-Driven Activity-Based Life-Cycle Costing," Mathematics, MDPI, vol. 8(12), pages 1-24, December.
    3. Orlando Durán & Paulo Sergio Afonso & Paulo Andrés Durán, 2019. "Spare Parts Cost Management for Long-Term Economic Sustainability: Using Fuzzy Activity Based LCC," Sustainability, MDPI, vol. 11(7), pages 1-14, March.

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