| Title |
A Study on Simplification of LCC Estimation Through Correlation Estimation Between Cost Elements for Railway Catenary System |
| DOI |
https://doi.org/10.5370/KIEE.2024.73.5.900 |
| Keywords |
LCC; Railway; Catenary System; Cost Element; Coefficient modeling |
| Abstract |
Life cycle cost (LCC) analysis is crucial for estimating total cost of system constructions across various industries, especially defense, aerospace, railways where products are complex and long-lasting. A significant challenge in LCC modeling lies in the limited availability of reliable life-cycle data, leading to uncertainties in system specifications, estimation methods, and scenario analysis. Despite the existence of historical construction data, inherent uncertainties often restrict their direct use. In projects like catenary system construction for railways, LCC is heavily influenced by project length, with material costs being one of the most deterministic elements compared to other cost factors. This paper proposes a novel cost element coefficients method to facilitate the estimation of total construction costs. Our method leverages historical data and addresses uncertainties, providing a practical tool for LCC analysis in railway projects. |