Twenty-two ASTM standards, complete with case examples, examine the criteria for evaluating the economic performance of investments in buildings, building systems, and other constructed facilities, such as roads and bridges. This new edition helps you decide whether to accept or reject a given investment and establishes priority with limited budgets. Section 1 identifies: • Building design, sizing, and system decisions that require economic analysis • Techniques for the risk evaluation of a project, as well as the advantages and disadvantages of each technique • A generic format for summarizing the economic impacts of building-related projects Section 2 establishes practices for measuring and analyzing project costs, and benefits, constructing FAST Diagrams and performing function analysis, and organizing and managing building data. It also covers: • Life-cycle costs • Benefit-to-cost and savings-to-investment ratios • Internal rates of return • Net benefits • Payback for investments in buildings and building systems. Section 3 describes terminology used in the standards. Section 4 provides a Uniform II classification of building elements, based on major components common to most buildings. UNIFORMAT II ensures consistency in the economic evaluation of projects over time. Other classifications pertain to life-cycle environmental work elements and bridges. Section 5 deals with adjuncts on Discount Factor Tables and the Environmental Cost Element Structure. Section 6 provides a brief introduction to a software product called AHP/Expert Choice® for ASTM Building Evaluation, which supports ASTM Practice E 1765 (Section 2) on applying the analytical hierarchy process. (Software is not included). This is a valuable reference source for manufacturers and producers; federal, state, and local government agencies; builders; building code bodies; architectural/engineering firms; consumer groups; trade associations; research groups; consulting firms; and universities.