The cost-effectiveness software tool helps users make straightforward and consistent comparisons of risk mitigation strategies based on established economic evaluation practices. The uncertainty about natural and man-made hazards complicates the task of building owners and managers to identify and choose which hazards to guard against. The wide range of potential remediation measures, the permanence of investment-based solutions, and the expense of their implementation, installation, and maintenance necessitate an evaluation tool that systematically and consistently evaluates competing alternatives.
The cost-effectiveness software tool performs such evaluations by incorporating life-cycle cost analysis based on an industry consensus standard, ASTM E 917. The software allows building owners and managers to define hazard scenarios, identify possible consequences of those scenarios, and compare combinations of strategies to mitigate those consequences. The software's standardized measures allow life-cycle comparisons of alternative combinations of risk mitigation strategies based on user-defined scenarios.