ASTM E3130-21 - Standard Guide for Developing Cost-Effective Community Resilience Strategies
Standard Guide for Developing Cost-Effective Community Resilience Strategies
| Standard number: | ASTM E3130-21 |
| Released: | 01.08.2021 |
| Status: | Active |
| Pages: | 10 |
| Section: | 04.12 |
| Keywords: | adjusted internal rate of return; analytical hierarchy process; building condition assessment; building economics; building systems; cost analysis; economic evaluation methods; economic impacts; engineering economics; homeland security; impact assessment; life-cycle costs; man-made hazards; measures of economic performance; Monte Carlo simulation; multi-attribute decision analysis; natural hazards; net savings; present-value analysis; project management; risk assessment; risk mitigation strategies; savings-to-investment ratio; sensitivity analysis; value engineering; |
1.1 This guide describes a generic economic methodology for evaluating investment decisions aimed to improve the ability of communities to adapt to, withstand, and quickly recover from, disruptive events. The methodology describes a framework for developing cost-effective community resilience strategies for new and existing constructed facilities—buildings, industrial facilities, and other critical infrastructure. This guide provides owners and managers of constructed facilities, architects, engineers, constructors, other providers of professional services for constructed facilities, and researchers and analysts with an approach for planning and comparing resilience strategies.
1.2 This guide frames the economic decision process by identifying and comparing the relevant present and future streams of costs and benefits to a community—the latter realized through cost savings and damage loss avoidance—associated with new capital investment into resilience to those generated by the status-quo.
1.3 This guide provides a means to increase the capacity of communities to objectively and effectively compare and contrast capital investment projects through consideration of benefits and costs while maintaining an awareness of system resilience. Topics related to non-market values and uncertainty are also explored.
1.4 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.
1.5 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.