Alternate Design/Alternate Bid Process for Pavement-Type Selection (2017) / Chapter Skim
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16 CHAPTER THREE ALTERNATE DESIGN/ALTERNATE BID LIFE-CYCLE COST ANALYSIS INTRODUCTION Tim Waight, the deputy director of the Texas Turnpike Authority, stated, "Selecting the pavement type is the number one issue that drives the cost of a major highway project, and that decision then drives all the other engineering decisions that impact a project's actual life cycle cost" (T. Waight, personal communication, July 1, 2003)
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17 The literature, case studies, and survey showed that there are at least seven different approaches to developing an LCCbased bid adjustment factor. Table 4 consolidates those findings and shows which DOTs are known to use them.
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18 1. Selection of a method of analysis, 2.
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19 The analyst must be aware of the inability to "compare apples to apples" owing to fundamental differences between pavement types and the many combinations of design inputs, economic factors, and analysis assumptions. Sensitivity analyses are recommended to illustrate how various factors influence the alternative selection.
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20 Residual/Salvage Value and Remaining Service Life The two components to estimating the value of an asset at the end of an analysis period are as follows (Hallin et al.
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21 Value of Cost Certainty The final LCCA issue deals with certainty of the models' input values over the time period from which the pavement-type decision is made until the bids are opened and construction can commence. For a project that is in design and will not be constructed for several years, it is common practice to include a contingency in a cost estimate to account for the uncertainty in construction material prices.
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