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Ali, Y, Sabir, M and Muhammad, N (2019) A comparative input-output analysis of the construction sector in three developing economies of South Asia. Construction Management and Economics, 37(11), 643–58.

Hong, Y, Hammad, A W A and Akbarnezhad, A (2019) Impact of organization size and project type on BIM adoption in the Chinese construction market. Construction Management and Economics, 37(11), 675–91.

Leoto, R and Lizarralde, G (2019) Challenges for integrated design (ID) in sustainable buildings. Construction Management and Economics, 37(11), 625–42.

van den Boomen, M, Leontaris, G and Wolfert, A R M (2019) Replacement optimization of ageing infrastructure under differential inflation. Construction Management and Economics, 37(11), 659–74.

  • Type: Journal Article
  • Keywords: Replacement decisions; public infrastructure assets; differential inflation; asset management; optimization;
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446193.2019.1574977
  • Abstract:
    Ageing public infrastructure assets necessitate economic replacement analysis. A common replacement problem concerns an existing asset challenged by a replacement option. Classic techniques obtained from the domain of engineering economics are the mainstream approach to replacement optimization in practice. However, the validity of these classic techniques is built on the assumption that life cycle cash flows of a replacement option are repetitive. Differential inflation undermines this assumption and therefore more advanced replacement optimization techniques are required under these circumstances. These techniques are found in the domain of operations research and require linear or dynamic programming (LP/DP). Since LP/DP techniques are complex and time-consuming, the current study develops an alternative model for replacement optimizations under differential inflation. This approach builds on the classic capitalized equivalent replacement technique. The alternative model is validated by comparison with a DP model showing to be equally accurate for a case with characteristics that apply to many infrastructure assets.