Proof of Concept: Cumulative Cost Model for NCDOT Equipment Fleet Data

This proposed project builds on the Fleet Management Performance Monitoring project by evaluating the applicability of cumulative cost modeling techniques in developing economic models to estimate the economic life of equipment in the North Carolina Department of Transportation (NCDOT) fleet. Previous research to develop economic models of NCDOT equipment have relied on annual cost data for all equipment in an equipment class, which is effectively an economic snapshot of the fleet. While economic modeling based on annual costs is an accepted approach, in some cases variability within the cost data masks annual increase operating costs required to predict economic life. Cumulative cost modeling is founded in the concept that equipment repair costs in a given year will often affect equipment operating costs in subsequent years. Thus, economic models are developed based on cumulative (or life-to-date) costs and equipment age measured in hours or miles. Economic models for four (4) equipment classes will be developed using cumulative cost modeling techniques and the results compared to previously developed models. The research products resulting from this project are: (1) evaluation of existing fleet cost data for use with cumulative cost modeling techniques; (2) cumulative cost economic models for four NCDOT equipment classes; and(3) comparison of the economic models and economic life resulting from cumulative cost and annual cost modeling techniques. These research products will support the NCDOT Fleet Management Unit in analyzing and managing the equipment fleet.


  • English


  • Status: Active
  • Contract Numbers:


  • Sponsor Organizations:

    North Carolina Department of Transportation

    Research and Development
    1549 Mail Service Center
    Raleigh, NC  USA  27699-1549
  • Project Managers:

    Kirby, John

  • Performing Organizations:

    University of North Carolina, Charlotte

    Department of Civil and Environmental Engineering
    9201 University City Boulevard
    Charlotte, NC  USA  28223-0001
  • Principal Investigators:

    Hildreth, John

  • Start Date: 20130516
  • Actual Completion Date: 20130815
  • Source Data: RiP Project 34187

Subject/Index Terms

Filing Info

  • Accession Number: 01481232
  • Record Type: Research project
  • Source Agency: North Carolina Department of Transportation
  • Contract Numbers: FHWA/NC/2013-38
  • Files: RiP
  • Created Date: May 14 2013 1:00AM