life cycle planning (lcp): what it is and how it can be...
TRANSCRIPT
Presented by: Katie Zimmerman
12th National Conference on Transportation Asset Management
San Diego, CA
Life Cycle Planning (LCP): What It Is and How It Can Be Used
What Is LCP?
• LCP is a process to estimate the cost of managing an asset class, or asset sub-group, over its whole life with consideration for minimizing cost while preserving or improving the condition. 23 CFR 515.5
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Why Is It Important?
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LCP Has Long-Term Financial Implications
How Do I Do LCP?
• FHWA Guidance on LCP introduced a process
• https://www.fhwa.dot.gov/asset/pubs/life_cycle_planning.pdf
© 2017 Applied Pavement Technology
Step 1: Select Asset Classes & Frameworks
• What Assets?
–Pavements and bridges are required
–Other assets?
• Are Subgroups Needed to Reflect Differences in Performance and Treatment Strategies?
– Interstate, Non-Interstate NHS, Non-NHS
–Pavement or bridge type
–Highly vulnerable assets or opportunities to address resilience
Step 2: Define LCP Strategies
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Predict Conditions For Each Strategy
• Use management systems for pavements & bridges
• Less sophisticated tools can be used for other assets
Step 3: Set LCP Scenario Inputs
• Anticipated Funding Levels?
• Desired State of Good Repair?
• Minimum Conditions That Must Be Met?
• Other Performance Issues That The Agency Wants to Address?
• Risks?
– Changes in truck loads?
– Long-term vulnerability to flooding?
– Changes to future treatment cycles based on extreme weather events?
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Step 4: Develop LCP Scenarios
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Step 5: Provide Input to Financial Planning
Addressing Realities
• LCP is an iterative process…investment levels change, priorities change, unexpected events happen
• It may take time to adopt a new strategy
• Results may be influenced by other agency priorities
– Seismic retrofit initiative
–Culvert program to address high-flood areas
– Freight corridors
How Do I Use LCP Results?
• Build support for a more cost-effective, long-term preservation strategy
• Establish achievable targets
• Communicate the impact of investment options
• Involve stakeholders in discussions about the desired level of service that can be achieved
• Align the organization’s business processes & investment decisions with agency priorities
• Demonstrate good stewardship
