ECONOMIC ANALYSIS OF AN ASSET MANAGEMENT PLAN FOR WATERFRONT STRUCTURES

Mathematical models compare equivalent annual costs among investment possibilities for service life extension of an asset. The cost baseline is a capital asset with no corrosion protection and no periodic maintenance. The baseline is compared to additional investment for service life extension during installation and to investment periodic maintenance. The models generate useful results to compare traditional and alternative technologies.  As an asset approaches the end of its service life, the models can assist decision makers with economic justification to renovate or to replace an asset.The paper discusses an example of steel sheet piling used in the foundations and construction of waterfront structures. These high value assets are subject to severe corrosion.