ASTM has developed its first standard for evaluating the lifecycle cost of corrosion protection systems and has revised its standard for coatings terms.
“ASTM A1068 - 10 Standard Practice for Life-Cycle Cost Analysis of Corrosion Protection Systems on Iron and Steel Products” covers a procedure for using life-cycle cost (LCC) analysis techniques to evaluate different corrosion protection system designs that satisfy the same functional requirements.
LCC analysis is a method for evaluating alternatives that involve different cash flows over the life of the designated project design.
The method involves calculating the LCC of each alternative capable of satisfying the project’s functional requirement and comparing them to determine the lowest estimated LCC.
The technique measures the present value of all relevant costs of producing and rehabilitating alternative corrosion protection systems—including surface preparation, application, construction, rehabilitation or replacement—over a specified period of time.
ASTM says the method is particularly suitable for determining whether the higher initial cost of an alternative is economically justified by reductions in future costs (for example, rehabilitation or replacement), when compared to an alternative with lower initial costs but higher future costs.
The standard does not purport to address any safety concerns associated with its use.
Coatings, Application Terms Updated
ASTM has also issued its sixth update of “D16 - 11 Standard Terminology for Paint, Related Coatings, Materials, and Applications.”
The standard consists of technical terms used in standards under the jurisdiction of ASTM Committee D01 (Paint and Related Coatings, Materials and Applications) and of definitions suitable for use in these standards.
Definitions used in other ASTM standards are indicated by following the definition with the designation of that standard. In some cases, a relevant D01 subcommittee is also listed. Definitions influenced by those used by other organizations are indicated by the acronym of the organization.