Cost-Benefit Analysis

Cost-Benefit Analysis using Modular Dynamic Fault Tree Analysis and Monte Carlo Simulations for Condition-based Maintenance of Unmanned Systems ArXiv ID: 2405.09519 “View on arXiv” Authors: Unknown Abstract Recent developments in condition-based maintenance (CBM) have helped make it a promising approach to maintenance cost avoidance in engineering systems. By performing maintenance based on conditions of the component with regards to failure or time, there is potential to avoid the large costs of system shutdown and maintenance delays. However, CBM requires a large investment cost compared to other available maintenance strategies. The investment cost is required for research, development, and implementation. Despite the potential to avoid significant maintenance costs, the large investment cost of CBM makes decision makers hesitant to implement. This study is the first in the literature that attempts to address the problem of conducting a cost-benefit analysis (CBA) for implementing CBM concepts for unmanned systems. This paper proposes a method for conducting a CBA to determine the return on investment (ROI) of potential CBM strategies. The CBA seeks to compare different CBM strategies based on the differences in the various maintenance requirements associated with maintaining a multi-component, unmanned system. The proposed method uses modular dynamic fault tree analysis (MDFTA) with Monte Carlo simulations (MCS) to assess the various maintenance requirements. The proposed method is demonstrated on an unmanned surface vessel (USV) example taken from the literature that consists of 5 subsystems and 71 components. Following this USV example, it is found that selecting different combinations of components for a CBM strategy can have a significant impact on maintenance requirements and ROI by impacting cost avoidances and investment costs. ...

The Oxford Olympics Study 2016: Cost and Cost Overrun at the Games ArXiv ID: ssrn-2804554 “View on arXiv” Authors: Unknown Abstract Given that Olympic Games held over the past decade each have cost USD 8.9 billion on average, the size and financial risks of the Games warrant study. The objec Keywords: Major Event Financing, Cost-Benefit Analysis, Public Infrastructure, Revenue Bonds, Financial Risk Management, Public Finance/Infrastructure Complexity vs Empirical Score Math Complexity: 1.0/10 Empirical Rigor: 3.0/10 Quadrant: Philosophers Why: The paper’s math is limited to descriptive statistics (averages, percentages) without advanced modeling. While it uses historical data, it lacks the implementation-heavy backtesting or detailed datasets typical of high-empirical-rigor finance research, focusing instead on broad phenomenological analysis. flowchart TD A["Research Goal Quantify Olympic cost & overrun"] --> B["Methodology Retrospective cost analysis"] B --> C["Data Sources Olympic Games budgets 1960-2016"] C --> D["Computation Mean cost & overrun calculations"] D --> E["Key Findings Avg cost: USD 8.9B Avg overrun: 156%"]