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Asset Management Manual
A guide for practitioners!
Whole-life cost is a cost-benefit analysis that quantifies the investment costs, including the cost of the treatment and subsequent maintenance interventions, against economic benefits, including safety, traffic delays, and pollution. These should be assessed for each maintenance strategy. The maintenance strategy with the lowest NPV over the period of analysis provides the lowest whole-life cost. Costs may be determined as described above. Benefits should be determined by each organization and considered in the context of its overall approach to asset management.