You are being redirected because this document is part of your ASTM Compass® subscription.
    This document is part of your ASTM Compass® subscription.

    STP1586

    Benefits of ASTM Economic Standards

    Published: 2014


      Format Pages Price  
    PDF (3.89 MB) 22 $25   ADD TO CART
    Complete Source PDF (14M) 201 $70   ADD TO CART

    Cite this document

    X Add email address send
    X
      .RIS For RefWorks, EndNote, ProCite, Reference Manager, Zoteo, and many others.   .DOCX For Microsoft Word


    Abstract

    The ASTM E06.81 Building Economics Subcommittee developed 26 standards that can assist in key project areas. Almost every action throughout the life of a project has cost and risk consequences. This paper provides an overview of how ASTM standards are used to promote more cost-effective decisions for the design, construction, operation and disposal of constructed facilities. There are 10 standards focused on compiling, analyzing, reporting, and summarizing cost data; three standard practices for measuring the value of construction related systems and attributes; five standards for measuring and managing risk; and seven standards for measuring economic performance and reporting the results of an economic evaluation. Terminology is an important part of all E06.81 standards. A separate terminology standard provides definitions of economic techniques and terms used in the 25 other E06.81 standards. Five case studies are presented in this paper. Case Studies 1 and 2 focus on risk management of low-rise and high-rise buildings. Case Study 3 is an example of value analysis of high rise building columns. Case Study 4 describes how to manage cost and mitigate risks for bridge projects and Case Study 5 is part of economic evaluation of a long-span bridge from concept to construction and beyond.

    Keywords:

    buildings, bridges, columns, economic performance, risk mitigation, value engineering, function analysis, elemental cost


    Author Information:

    Kasi, M.
    ASTM E6.81 Subcommittee Chairman; Chairman Emeritus, Alfred Benesch & Company, Chicago, IL


    Committee/Subcommittee: E06.81

    DOI: 10.1520/STP158620140029