10a.m - 10:30a.m. | Join at https://sjsu.zoom.us/j/94068456097
This Caltrans-funded study investigates trends in the primary pavement materials’ unit price over time and develops guidelines for selecting unit price values for future maintenance and rehabilitation in life cycle cost analysis (LCCA). Researchers collected 20 years of California socio-economic data, including oil price, population, and other key variables to identify correlations with pavement materials’ unit price. Researchers predicted future values through time-series analysis (auto regressive integrated moving average: ARIMA) and used them to estimate future prices. Additionally, they collected unit price records of the primary pavement materials for the same time period and categorized them by project size. Using this data, researchers predicted future price values and then used a case study to compare the results with the prices in the current LCCA procedure.