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Whole life cost analysis provides a holistic, long-term approach to planning road maintenance, with benefits for industry, users and the environment.
The estimated total value of roads in the European Union is EUR 8,000 billion. Keeping this crucial asset in good working condition through planned maintenance is no easy task. In light of restricted budgets, there will be more focus on increasing road efficiency, and therefore an emphasis on maintenance, road performance and asset preservation.
Carrying out regular road condition surveys and planned maintenance is an effective means of managing Europe’s road infrastructure. Many factors must be taken into consideration for the best strategies to be implemented.
In this Guide, we explore whole life costing and how it can be used to maximise the lifespan of roads using the most economical approach possible.
The aim of whole life costing is to determine the total cost of ownership of an asset. This is done by calculating the direct and indirect costs that may occur during the asset's lifecycle. As a result, decision makers have a source of information that allows them to compare various maintenance strategies and determine the most economical option over a defined period.
A number of initiatives are needed to attract new groups and in general to increase diversity in the industry. There is otherwise the risk of a serious skills shortage in the future.Read more about Talking point: recruiting new talent