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Standard Practice for Life-Cycle Cost Analysis of Corrosion Protection Systems on Iron and Steel Products
1.1 This practice covers a procedure for using life-cycle cost (LCC) analysis techniques to evaluate alternative corrosion protection system designs that satisfy the same functional requirements.
1.2 The LCC technique measures the present value of all relevant costs of producing and rehabilitating alternative corrosion protection systems, such as surface preparation, application, construction, rehabilitation, or replacement, over a specified period of time.
1.3 Using the results of the LCC analysis, the decision maker can then identify the alternative(s) with the lowest estimated total cost based on the present value of all costs.
1.4 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety and health practices and determine the applicability of regulatory limitations prior to use.
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