This research project aimed at developing a methodology for assessing variation and risk in investment in road network, including the application of the method in assessing road network performance and maintenance and rehabilitation costs for short- and long-term future investment. The objectives of the paper are: 1. To present a methodology for predicting the variation and likelihood (probability) of whole-of-life outcomes for short- and long-term investments in maintenance of road works given the natural variability of asset properties affecting road asset performance; 2. To demonstrate the feasibility of the method on an Australian road network. The expected outcomes of the study include: 1. Greater confidence in predicting future whole-of-life costs for short- and long-term investment in road assets; 2. Greater confidence in predicting the nature of future maintenance required and return periods (time intervals) for maintenance and rehabilitation; 3. Greater confidence in economic outcomes. (a) For the covering entry of this conference, please see ITRD abstract no. E214666.
Abstract