ASTM E2506-06

Standard Guide for Developing a Cost-Effective Risk Mitigation Plan for New and Existing Constructed Facilities

STANDARD published on 15.9.2006

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The information about the standard:

Designation standards: ASTM E2506-06
Note: WITHDRAWN
Publication date standards: 15.9.2006
SKU: NS-45451
The number of pages: 12
Approximate weight : 36 g (0.08 lbs)
Country: American technical standard
Category: Technical standards ASTM

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Annotation of standard text ASTM E2506-06 :

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, multiattribute decision analysis, natural hazards, net savings, present-value analysis, project management, risk assessment

Additional information

1. Scope

1.1 This guide describes a generic framework for developing a cost-effective risk mitigation plan 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 an approach for formulating and evaluating combinations of risk mitigation strategies.

1.2 This guide insures that the combinations of mitigation strategies are formulated so that they can be rigorously analyzed with economic tools. Economic tools include evaluation methods, standards that support and guide the application of those methods, and software for implementing the evaluation methods.

1.3 The generic framework described in this guide helps decision makers assess the likelihood that their facility and its contents will be damaged from natural and man-made hazards; identify engineering, management, and financial strategies for abating the risk of damages; and use standardized economic evaluation methods to select the most cost-effective combination of risk mitigation strategies to protect their facility.

1.4 The purpose of the risk mitigation plan is to provide the most cost-effective reduction in personal injuries, financial losses, and damages to new and existing constructed facilities. Thus, the risk mitigation plan incorporates perspectives from multiple stakeholders-owners and managers, occupants and users, and other affected parties-in addressing natural and man-made hazards.

2. Referenced Documents

E2166-16(2023)	Standard Practice for Organizing and Managing Building Data
E2204-15(2020)e1	Standard Guide for Summarizing the Economic Impacts of Building-Related Projects (Includes all amendments and changes 8/24/2023).
E1946-18(2023)	Standard Practice for Measuring Cost Risk of Buildings and Building Systems and Other Constructed Projects
E2103/E2103M-19	Standard Classification for Bridge Elements´UNIFORMAT II
E631-15	Standard Terminology of Building Constructions
E1185-15(2020)e1	Standard Guide for Selecting Economic Methods for Evaluating Investments in Buildings and Building Systems (Includes all amendments and changes 5/6/2020).
E1765-16(2023)	Standard Practice for Applying Analytical Hierarchy Process (AHP) to Multiattribute Decision Analysis of Investments Related to Projects, Products, and Processes
E1699-14(2020)	Standard Practice for Performing Value Engineering (VE)/Value Analysis (VA) of Projects, Products and Processes
E1557-09(2020)e1	Standard Classification for Building Elements and Related Sitework´UNIFORMAT II (Includes all amendments and changes 5/6/2020).
E1369-15(2020)e1	Standard Guide for Selecting Techniques for Treating Uncertainty and Risk in the Economic Evaluation of Buildings and Building Systems (Includes all amendments and changes 5/6/2020).
E1121-15(2020)e1	Standard Practice for Measuring Payback for Investments in Buildings and Building Systems (Includes all amendments and changes 5/6/2020).
E1074-15(2020)e1	Standard Practice for Measuring Net Benefits and Net Savings for Investments in Buildings and Building Systems (Includes all amendments and changes 5/6/2020).
E1057-15(2020)e1	Standard Practice for Measuring Internal Rate of Return and Adjusted Internal Rate of Return for Investments in Buildings and Building Systems (Includes all amendments and changes 5/6/2020).
E964-15(2020)e1	Standard Practice for Measuring Benefit-to-Cost and Savings-to-Investment Ratios for Buildings and Building Systems (Includes all amendments and changes 5/6/2020).
E917-17(2023)	Standard Practice for Measuring Life-Cycle Costs of Buildings and Building Systems
E833-14(2021)	Standard Terminology of Building Economics

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