Research Summary: Material Price Projections for Pavement Life Cycle Cost Analysis

Concrete Paving Project, Stock Image
April 6, 2016

For life cycle cost analyses (LCCAs) to provide the best information possible and lead to better decisions, the cost estimates must reflect, as accurately as possible, the most likely expenditures for each alternative over the analysis period. Research conducted in collaboration with the Colorado Department of Transportation (CDOT) shows that material-specific price projections are more accurate than the conventional assumption that pavement prices follow the average rate of economic inflation. Not taking into account different inflation rates among construction materials can have significant impacts on LCCA estimates and, as a result, the allocation of DOT resources. Read more.