Research on the Social Discount Rate for the Whole Life Cycle Engineering Cost Management
The Whole Life Cycle Engineering Costing Management is an effective method to minimize the cost of an engineering project for the whole life, including the construction period, the operation period and the removal period. In this paper, we divided the Engineering Cost into three parts of labor costs, material costs and machinery costs. We have built a River-influx Model to calculate the social discount rate for the future, based on historical data and using MATLAB software to fit curves. We can then calculate the whole Life Cycle Engineering Cost for the future.
Chaohe Chen, Yong Huang and Guangfan Li
X. D. Han and T. Luo, "Research on the Social Discount Rate for the Whole Life Cycle Engineering Cost Management", Advanced Materials Research, Vols. 243-249, pp. 6284-6287, 2011