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The severity of risk can be categorized as high, medium, or low, based on the degree of compliance/public health and business risks. Life-cycle cost analyses can also be used to analyze the potential benefits and costs of new materials, and to assess the additional system preservation-related costs of changes in vehicle sizes and weights. In other words, because the expenditures take place over several decades and the timing of the expenditures differ between a P3 approach and the more traditional procurement approach, the comparisons are adjusted to account for the fact that money available at the present time is worth more than money available in the future.
Publisher: Cengage Learning; 1 edition (October 19, 2001)
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