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    Impact of Machine-Failure Costs on Equipment Replacement Policies: Tunneling Company Case Study

    Source: Journal of Construction Engineering and Management:;2012:;Volume ( 138 ):;issue: 006
    Author:
    Luis F. Alarcón
    ,
    Andrés Rodríguez
    ,
    Claudio Mourgues
    DOI: 10.1061/(ASCE)CO.1943-7862.0000480
    Publisher: American Society of Civil Engineers
    Abstract: For those construction companies engaged in projects where production is controlled by equipment availability, with tunneling as maybe the most extreme example, equipment replacement policies affect not just the cost of a machine but have a decisive effect on overall project cost and achieved profit. Although equipment replacement models described in the literature suggest that the consequential costs of equipment failure are significant and should be considered in replacement decisions, most fail to explicitly include consequential costs or fail to provide methods to calculate the consequential cost in complex systems. This lack of consequential cost in a model seriously diminishes the effectiveness of a company’s equipment replacement policies and the company’s ability to earn a project. This work describes a case study that used simulation to quantify the consequential costs of equipment availability for a company engaged in tunnel-construction. The study includes the simulation of activities of the drill-and-blast method for five tunnel types. The simulation proved to be very valuable when seeking to evaluate consequential costs. The results indicate that consequential costs are very relevant to the replacement decision of the most expensive equipment. Also, the results show a significant effect of the consequential costs on the company’s equipment replacement policies. Therefore, changes in existing policies to consider consequential costs have the potential of providing important future benefits for such companies.
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      Impact of Machine-Failure Costs on Equipment Replacement Policies: Tunneling Company Case Study

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    contributor authorLuis F. Alarcón
    contributor authorAndrés Rodríguez
    contributor authorClaudio Mourgues
    date accessioned2017-05-08T21:39:38Z
    date available2017-05-08T21:39:38Z
    date copyrightJune 2012
    date issued2012
    identifier other%28asce%29co%2E1943-7862%2E0000487.pdf
    identifier urihttp://yetl.yabesh.ir/yetl/handle/yetl/58641
    description abstractFor those construction companies engaged in projects where production is controlled by equipment availability, with tunneling as maybe the most extreme example, equipment replacement policies affect not just the cost of a machine but have a decisive effect on overall project cost and achieved profit. Although equipment replacement models described in the literature suggest that the consequential costs of equipment failure are significant and should be considered in replacement decisions, most fail to explicitly include consequential costs or fail to provide methods to calculate the consequential cost in complex systems. This lack of consequential cost in a model seriously diminishes the effectiveness of a company’s equipment replacement policies and the company’s ability to earn a project. This work describes a case study that used simulation to quantify the consequential costs of equipment availability for a company engaged in tunnel-construction. The study includes the simulation of activities of the drill-and-blast method for five tunnel types. The simulation proved to be very valuable when seeking to evaluate consequential costs. The results indicate that consequential costs are very relevant to the replacement decision of the most expensive equipment. Also, the results show a significant effect of the consequential costs on the company’s equipment replacement policies. Therefore, changes in existing policies to consider consequential costs have the potential of providing important future benefits for such companies.
    publisherAmerican Society of Civil Engineers
    titleImpact of Machine-Failure Costs on Equipment Replacement Policies: Tunneling Company Case Study
    typeJournal Paper
    journal volume138
    journal issue6
    journal titleJournal of Construction Engineering and Management
    identifier doi10.1061/(ASCE)CO.1943-7862.0000480
    treeJournal of Construction Engineering and Management:;2012:;Volume ( 138 ):;issue: 006
    contenttypeFulltext
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