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Life cycle costing is a key asset management tool that takes into account the whole of life implications of planning, acquiring, operating, maintaining and disposing of an asset. The process is an evaluation method that considers all ownership and management costs.
The California Life-Cycle Benefit/Cost Analysis Model (Cal-B/C) Cal-B/C is a suite of Excel workbooks developed by Caltranss Transportation Economics Branch to provide decision-makers with the ability to assess the benefits and costs of transportation projects associated with the highway system.
Calculating LCC involves several steps: Define the time period for the analysis. Estimate costs over the defined period. Choose a discount rate. Calculate net present value (NPV). Compare NPVs of different options to make an informed choice based on total cost, not just initial cost.
Life-cycle Cost Analysis (LCCA) is a process for evaluating the economic worth of a pavement segment by analyzing initial costs and discounted future costs such as surface treatment, resurfacing, rehabilitation, and reconstruction costs over a defined analysis period.
LCCA is an engineering economic analysis tool useful in comparing the relative merit of competing project implementation alternatives. By considering all of the costs agency and userincurred during the service life of an asset, this analytical process helps transportation officials to select the lowest cost option.

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Life cycle assessment (LCA) considers all life-cycle phases from initial construction to demolition. For pavements, this includes the operation, maintenance, and end of life phases, and factors such as traffic delay, lighting demand, and future maintenance.
In general, a pavement life cycle includes material production, construction, use, Maintenance and Rehabilitation (MR) and End-Of-Life (EOL) phase, as described in Fig.

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