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Significance and Use
Standard practices for measuring the economic performance of investments in buildings and building systems have been published by ASTM. A computer program that produces economic measures consistent with these practices is available. Discount Factor Tables has been published by ASTM to facilitate computing measures of performance for most of the practices.
This guide can be used to: (1) identify types of building design and system decisions that require economic analysis; (2) match the technically appropriate economic methods with the decisions; and (3) locate the methods in the ASTM practices and adjuncts listed in Section 2.
More than one method can be technically appropriate for many building decisions. Therefore the choice in practice of which technically appropriate economic method to use for evaluating a particular building decision will often depend on the perspective of the user. Some examples of factors that influence the user are: (1) ease of applying the methods, (2) level of familiarity of the user with the methods, (3) preference of the user for different methods, and (4) presence of budget limitations for the projects.
This guide identifies some features and limitations of the methods that might influence users' choices under varying conditions.
1.1 This guide identifies types of building design and building system decisions that require economic analysis and recommends ASTM practices, adjuncts, and computer programs that may be used to implement the appropriate economic methods for each decision type.
2. Referenced Documents (purchase separately) The documents listed below are referenced within the subject standard but are not provided as part of the standard.
E631 Terminology of Building Constructions
E833 Terminology of Building Economics
E917 Practice for Measuring Life-Cycle Costs of Buildings and Building Systems
E964 Practice for Measuring Benefit-to-Cost and Savings-to-Investment Ratios for Buildings and Building Systems
E1057 Practice for Measuring Internal Rate of Return and Adjusted Internal Rate of Return for Investments in Buildings and Building Systems
E1074 Practice for Measuring Net Benefits and Net Savings for Investments in Buildings and Building Systems
E1121 Practice for Measuring Payback for Investments in Buildings and Building Systems
ICS Number Code 91.010.20 (Contractual aspects)
UNSPSC Code 81120000(Economics); 30000000(Structures and Building and Construction and Manufacturing Components and Supplies)
ASTM E1185-12, Standard Guide for Selecting Economic Methods for Evaluating Investments in Buildings and Building Systems, ASTM International, West Conshohocken, PA, 2012, www.astm.orgBack to Top