An innovative integrated approach to whole life costing.

Kishk, Mohammed; Al-Hajj, A.; Pollock, R.

Abstract

A number of recently developed algorithms are combined to build an innovative integrated whole life costing approach. The integration process is based on the simple idea of breaking the decision-making process into a logical series of activities. Then, the appropriate algorithms are employed to model each activity and link it with other activities. The most unique feature of the approach is that various levels of information availability and different types of uncertainty of information are dealt with effectively by the most appropriate algorithm(s). Besides, critical stages of the decision-making process are automated and various scenarios of the decision making process are logically handled by a carefully designed decision algorithm. Furthermore, the approach is computationally effective because all repeated calculations are eliminated and the optimum level of the recycle process is automatically identified.

Citation

KISHK, M., Al-HAJJ, A. and POLLOCK, R. 2002. An innovative integrated approach to whole life costing. Journal of financial management of property and construction, 7(1), pages 31-40.

• Journal Article Type: Article
• Acceptance Date: Dec 31, 2002
• Online Publication Date: Dec 31, 2002
• Publication Date: Dec 31, 2002
• Deposit Date: Apr 2, 2008
• Publicly Available Date: Apr 2, 2008
• Journal: Journal of Financial Management of Property and Construction
• Print ISSN: 1366-4387
• Electronic ISSN: 1759-8443
• Publisher: Emerald
• Peer Reviewed: Peer Reviewed
• Volume: 7
• Issue: 1
• Pages: 31-40
• Keywords: Decision making; Integration; Life cycle costing; Whole life costing
• Public URL: http://hdl.handle.net/10059/152