Economic-based approach for predicting optimal water pipe renewal period based on risk and failure rate

Kibum Kim, Jeewon Seo, Jinseok Hyung, Taehyeon Kim, Jaehag Kim, Jayong Koo

Research output: Contribution to journalArticlepeer-review

9 Scopus citations

Abstract

This study suggests a method for calculating the benefits of water pipe renewal based on an estimate of the water supply suspension risk. The proposed method based on five benefit items is more direct and specific than other benefit estimation methods. In addition, a methodology evaluating the economics of pipe renewal based on pipe failure rate is proposed for estimating the optimal renewal point from an economic perspective. By estimating the optimal renewal period based on a yearly benefit cost ratio per pipe in a case study area, it was possible to draft an optimal renewal plan for the subject region from an economic perspective. Compared with other methodologies, a reasonable optimal renewal period was derived from an economic point of view. The result of this study may be used to develop future water pipe renewal plans. Moreover, the proposed methodologies and results derived from this study can be applied to asset management plans.

Original languageEnglish
Pages (from-to)63-73
Number of pages11
JournalEnvironmental Engineering Research
Volume24
Issue number1
DOIs
StatePublished - Mar 2019

Keywords

  • Economic evaluation
  • Optimal renewal period
  • Pipeline renewal
  • Water suspension

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