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DOI: https://doi.org/10.4491/eer.2017.188
Economic-based approach for predicting optimal water pipe renewal period based on risk and failure rate
Kibum Kim1, Jeewon Seo1, Jinseok Hyung1, Taehyeon Kim1, Jaehak Kim2, and Jayong Koo1
1Department of Environmental Engineering, University of Seoul, Seoul 02504, Republic of Korea
2Metropolitan Water Supply Construction Office, K-water, Yongin 16935, Republic of Korea
Corresponding Author: Jayong Koo ,Tel: +82-2-6490-2866 , Fax: +82-2-5460-5465, Email: jykoo@uos.ac.kr
Received: November 21, 2017;  Accepted: May 30, 2018.
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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.
Keywords: Economic evaluation | Optimal renewal period | Pipeline renewal | Water suspension
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