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ASTM-E1369:2015 Edition

ASTM-E1369:2015 Edition

$44.96

E1369-15 Standard Guide for Selecting Techniques for Treating Uncertainty and Risk in the Economic Evaluation of Buildings and Building Systems

Published By Publication Date Number of Pages
ASTM 2015 17
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ASTM E1369-15

Historical Standard: Standard Guide for Selecting Techniques for Treating Uncertainty and Risk in the Economic Evaluation of Buildings and Building Systems

ASTM E1369

Scope

1.1 This guide covers techniques for treating uncertainty in input values to an economic analysis of a building investment project. It also recommends techniques for evaluating the risk that a project will have a less favorable economic outcome than what is desired or expected.2

1.2 The techniques include breakeven analysis, sensitivity analysis, risk-adjusted discounting, the mean-variance criterion and coefficient of variation, decision analysis, simulation, and stochastic dominance.

1.3 The techniques can be used with economic methods that measure economic performance, such as life-cycle cost analysis, net benefits, the benefit-to-cost ratio, internal rate of return, and payback.

Keywords

breakeven analysis; building economics; certainty equivalent; decision analysis; economics; economic evaluation; economic methods; mathematical/analytical technique; probability distribution; risk; risk-adjusted discount rate; risk analysis; risk attitude; risk exposure; sensitivity analysis; simulation; stochastic dominance; uncertainty;

ICS Code

ICS Number Code 91.010.20 (Contractual aspects)

DOI: 10.1520/E1369-15

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