Topic
Value engineering
About: Value engineering is a research topic. Over the lifetime, 1231 publications have been published within this topic receiving 10882 citations. The topic is also known as: VE.
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TL;DR: In this article, the authors explain the theory in support of total cost analysis (TCA) to compare transportation system alternatives, and demonstrate the TCA approach through a case study of two systemwide alternatives for the Baltimore, MD urban area.
Abstract: This paper explains the theory in support of total cost analysis (TCA) to compare transportation system alternatives. The full costs of each alternative are first aggregated, including travel time costs and monetizable environmental and social costs. Many costs which are considered on the benefits side of the equation in benefit-cost analysis (BCA) as "cost savings" are brought over to the costs side. Total cost differences among alternatives are then traded off against their estimated non-monetized benefits or impacts, just as a consumer trades off product quality against cost before deciding which product he or she will buy. One advantage of TCA over traditional BCA is that the concept of "total cost" is more easily understood by the public and by political decision-makers than BCA concepts such as "net present worth", "benefit-cost ratio" and "internal rate of return". A second advantage is that there is no suggestion that all "benefits" have been considered; decision-makers are free to use their own value judgements to trade off total cost against non-monetizable social, environmental and economic impacts, just as they trade off quality and convenience against cost when purchasing goods and services in their roles as consumers. The TCA approach is demonstrated in this paper through a case study of two systemwide alternatives for the Baltimore, MD urban area.
41 citations
Journal Article•
40 citations
TL;DR: The material presented at the IEEE 1994 Summer Power Meeting Panel on the application of reliability in least cost power system planning, sponsored by the Application of Probability Methods (APM) Subcommittee of the Power System Engineering Committee of IEEE as mentioned in this paper.
Abstract: This paper documents the material presented at the IEEE 1994 Summer Power Meeting Panel on the application of reliability in least cost power system planning, sponsored by the Application of Probability Methods (APM) Subcommittee of the Power System Engineering Committee of IEEE. The paper contains short notes by five panelists, representing five electric utilities in North America, on the application of reliability and value of service analysis in power system planning.
40 citations
TL;DR: Embodied carbon savings are found to be comparable to conventional strategies to reduce operating carbon emissions such as the use of a high-performance building facade over the building's life.
40 citations
01 Dec 1998
40 citations