Fleet Management Performance Monitoring
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2013-05-01
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TRIS Online Accession Number:01490306
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Edition:Final Report
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NTL Classification:NTL-ECONOMICS AND FINANCE-ECONOMICS AND FINANCE;NTL-PLANNING AND POLICY-PLANNING AND POLICY;
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Abstract:The principle goal of this project was to enhance and expand the analytical modeling methodology previously developed as part of the “Fleet Management Criteria: Disposal Points and Utilization Rates” project completed in 2010. The enhanced and expanded methods were focused on the management and analysis of equipment, usage, costs, and optimal life cycle for equipment in the NCDOT equipment fleet. Most important, a strategic goal was to develop, test, and refine a flexible and capable analytical model which can serve the long term management needs of the Fleet and Material Management Unit. A second approach to economic life modeling, based on dividing the present value of the life-to-date cost by usage (cost/mile or cost/hour) was integrated into the analytical capability, in addition to the equipment analysis model employing equivalent uniform annual cost. This rate model provides a second economic measure which presents an alternative perspective for the optimal life of some classes with high data variability in the fleet. The sum of years’ digits method of depreciation was selected to model the decline in equipment value as the machine ages. Equipment which have no measured usage data (odometer or hour meter), such as various equipment attachments, were analyzed on an annual cost basis.
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