The evaluation of project economic sustainability in a life cycle perspective: the case of cycle infrastructures

This Master’s Degree thesis is developed within the evaluation of project economic sustainability, with a focus on “slow” mobility and specifically cycle infrastructures. The main objective was to figure a suitable evaluation tool for assessing the total cost of a cycle network over its life cycle. The most appropriate approach resulted in the Life Cycle Costing (LCC) Analysis integrated with the Cost-Benefit Analysis (CBA). The central issue in the development of a theoretical LCC guideline adapted to the field of study was the integration a of a number of cost items that are usually neglected. In fact, the application of the traditional LCC approach is generally linked to private projects and focuses mainly on owner/investor total costs, without the involvement of other stakeholders. The study investigates the influence of the cost categories represented by user, environmental and social costs, that are declined and adapted to specific expenses related to cycle paths. As a result, a theoretical guideline for the construction of the LCC spreadsheet variation to evaluate cycle projects economic sustainability is developed. This opens the way to a switch towards a hybrid Life-Cycle Cost-Benefit Analysis (LCCBA), with the exploration of the resulting benefits and the definition of cash flows and a practical application of the operative modality to real case studies.