Economic Analysis Procedure for Earthquake Hazard Mitigation
Abstract
The 1990s represents a period in which both government and industry are attempting to reduce expenditures, focusing on economics of operation as a priority problem. Both are undergoing a downsizing to eliminate unnecessary functions and personnel with an increased emphasis on cost effectiveness and maximization of return on investment. All construction has a purpose and the economics of use is involved in the decision process to build or upgrade. Commercial and industrial construction are categories of investment which generally are designed to serve in an income producing role. The user commits to the expenditure of an amount of resources to establish an operating environment to meet a specific objective. In the corporate world, the objective may be an office complex designed for administrative or sales functions, or the objective may be an industrial complex designed to produce a product. It may be a hospital designed to assist the community by offering medical services. In the government sector, the objective might be an office complex to administer a state or federal program. In the Department of Defense, small self-contained cities are operated to meet the military needs for ports, airfields, industrial facilities, administration and personnel housing. Executive Order 12911 directs a screening program to quantify the numbers of federal buildings requiring seismic upgrade and an estimate of the cost to bring these deficient buildings up to current requirements. The expected costs of upgrade are huge and economics plays a central role in the decision process.
Document Details
- Document Type
- Technical Report
- Publication Date
- Feb 01, 1997
- Accession Number
- ADA402055
Entities
People
- J. M. Ferritto
Organizations
- Naval Facilities Engineering Service Center