Training Courses / Course Detail

How You Will Benefit

Protecting constructed facilities' buildings, industrial facilities, and other critical infrastructure's from damages from natural and man-made hazards in a cost-effective manner is a challenging task. This course covers the key measures of economic performance useful in evaluating investments in risk mitigation strategies, the standards associated with those measures of economic performance, software for implementing those measures, and resources for conducting the risk assessment and risk management activities that underlie the economic evaluation.

Learn:

* How to use economic analysis to improve capital investment decisions to protect against damages from natural and man-made hazards

* The common economic methods and the assumptions required to apply them when evaluating investments in risk mitigation strategies for protection against natural and man-made hazards in new and existing constructed facilities

* How to use Version 2.0 of the Cost-Effectiveness Tool for Capital Asset Protection (CET 2.0) to evaluate risk mitigation strategies in new and existing constructed facilities

* Where to obtain electronic and printed technical documents and tools that support risk assessment and risk management activities

* Where to obtain data about the frequency and consequences of natural and man-made hazards that are helpful when assessing the risk that a particular facility faces from these hazard.

Who Should Attend

* Owners and managers of constructed facilites

* Architects, engineers, constructors, and other providers of professional services for constructed facilities

* Building code and regulatory official

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Bachelor's degree or equivalent recommended but not required

$795 Fee Includes:

* Free 1-year membership in ASTM International and Committee E06 - Applies to new memberships only and may not be used to renew existing memberships

* ASTM Standards on Building Economics, 6th Edition (300+ pages)

* CET 2.0 Tool for Capital Asset Protection

* Printed and electronic copies of NISTIR 7390

* Course Note

* Refreshments

Course Completion Certificate with 1.5 Continuing Education Units (CEUs)

Course Outline

Registration: 8:00 - 8:30 AM

Class: 8:30 AM - 4:30 PM

Day 1

Course Overviw

* ASTM Standard Guide E 2506: Developing a Cost-Effective Risk Mitigation Plan for New and Existing Constructed Facilities

* Perform Risk Assessment

* Specify Combinations of Risk Mitigation Strategies for Evaluation

* Perform Economic Evaluation

Key Concepts Governing the Economic Evaluation

* Types of Economic Decisions

* Economic Principle

* Cost Categories

* Setting the Study Period

Selecting Appropriate Economic Method(s) for Evaluating the Candidate--Combinations of Risk Mitigation Strategies

* Overview of Economic Evaluation Method

* How to Select: ASTM Standard Guide E 1185

Introduction to the Data Center Case Stud

On-Line Demo: A Guide to Printed and Electronic Resources

Computing Measures of Economic Performance for Each Candidate Combination

* Baseline Analysi* Cost Accounting: How to Classify Costs to Best Support a Structured Analysis

* Calculating Life-Cycle Costs

* Deriving Other Methods From the Life-Cycle Cost Calculations

Introduction to the Cost-Effectiveness Tool for Capital Asset Protection (CET 2.0)

* Why Use a Software Tool

Constructing the Baseline Analysis

* Review of Results From the Data Center Case Study

* Ranking Alternative

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CET 2.0 Class Exercise: Entering, Editing, Verifying, and Analyzing Project-Related Inputs and Outputs

Day 2

Review Key Concept

Recompute Measures of Economic Performance Taking into Consideration Uncertainty

* Treatment of Uncertainty in Economic Analyses: ASTM Standard Guide E 1369

* Calculating Financial Risk: ASTM Standard Practice E 1946

* Treatment of Uncertainty and Financial Risk in CET 2.0

CET 2.0 Class Exercise: Techniques for Dealing with Uncertainty

Analyze Results and Identify the Most Cost-Effective Combination of Risk Mitigation Strategies

* Review Performance Results

* Document Differences in Alternative Rankings

* Recommend an Alternative as the Most Cost-Effective Risk Mitigation Plan

* Document Unquantified Effects

Prepare Report with Documentation Supporting Recommended Risk Mitigation Plan

* Suggested Contents

* Summary Format for Senior Management: ASTM Standard Guide E 2204

CET 2.0 Class Exercise: Report Preparation

Next Steps

* Create Simple Applications

*Build More Complex Applications via Sensitivity Analysis and Monte Carlo Simulation

* Use Results Report to Drive Further Refinements

* Additional Case Studies

* CET 3.0

Closing Sessin

About the Instructors

INSTRUCTORS

Robert E. Chapman, Ph. D. Dr. Chapman has served as project leader for a wide variety of technical projects at NIST, formerly the National Bureau of Standards, since 1975. He received his Ph.D. from the George Washington University, his M.A. from Indiana University, and his B.A. from McDaniel College. Dr. Chapman is currently leading technical projects in two key areas: economic tools for homeland security-related applications and measuring the economic impacts of the Building and Fire Research Laboratory's R&D program. He is the Secretary of the Building Economics Subcommittee, ASTM E06.81, and Chair of the Task Group on Techniques. Most recently, he led the development of the suite of standards that are the basis for this course.

Harold E. Marshall, Ph.D. Dr. Marshall received his Ph. D., M.A., and B.A. degrees from the George Washington University. During his 37 years at NIST, he managed research projects for many federal agencies and presented numerous technical lectures in building economics, many of which deal with economic methods for evaluating investments in building and construction. Dr. Marshall has taught short courses on life-cycle costing and design economics for the University of California, General Services Administration, U.S. Department of Energy, and NIST's predecessor, the National Bureau of Standards. Dr. Marshall has chaired the Building Economics Subcommittee, ASTM E06.81, since its inception in 1979, and has contributed significantly to the technical writing of more than 20 economic standards.

Support and Backup Instructors

David T. Butry, Ph.D; Economist; Office of Applied Economics; Building and Fire Research Laboratory; National Institute of Standards and Technology

Amy S. Rushing; Computer Specialist; Office of Applied Economics; Building and Fire Research Laboratory; National Institute of Standards and Technology

Douglas S. Thomas; Economist; Office of Applied EconomicslBuilding and Fire Research LaboratorylNational Institute of Standards and Technology

Location and Accommodations

You will receive directions to the training site and hotel information with your registration confirmation. Participants are responsible for making their own hotel reservations and for paying their hotel charges.

About ASTM and Sponsoring Committee

Organized in 1898, ASTM is one of the world's largest voluntary standards development organizations. ASTM standards have grown to be among the world's most widely used and accepted documents. The 82-volume Annual Book of ASTM Standards (available in print, on DC ROM, and online) contains 12,000 standards written by 34,000 members on 140 technical committees. These standards are widely used throughout the world as the basis of purchasing and other contracts, codes, laws and regulations. ASTM Committee E06 on Performance of Buildings developed the standard referenced in this course.

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