ASTM E1121-2015 Standard Practice for Measuring Payback for Investments in Buildings and Building Systems《测量建筑物和建筑系统投资偿还率的标准实施规程》.pdf
《ASTM E1121-2015 Standard Practice for Measuring Payback for Investments in Buildings and Building Systems《测量建筑物和建筑系统投资偿还率的标准实施规程》.pdf》由会员分享,可在线阅读,更多相关《ASTM E1121-2015 Standard Practice for Measuring Payback for Investments in Buildings and Building Systems《测量建筑物和建筑系统投资偿还率的标准实施规程》.pdf(9页珍藏版)》请在麦多课文档分享上搜索。
1、Designation: E1121 15Standard Practice forMeasuring Payback for Investments in Buildings andBuilding Systems1This standard is issued under the fixed designation E1121; the number immediately following the designation indicates the year oforiginal adoption or, in the case of revision, the year of las
2、t revision. A number in parentheses indicates the year of last reapproval. Asuperscript epsilon () indicates an editorial change since the last revision or reapproval.1. Scope1.1 This practice provides a recommended procedure forcalculating and applying the payback method in evaluatingbuilding desig
3、ns and building systems.2. Referenced Documents2.1 ASTM Standards:2E631 Terminology of Building ConstructionsE833 Terminology of Building EconomicsE917 Practice for Measuring Life-Cycle Costs of Buildingsand Building SystemsE964 Practice for Measuring Benefit-to-Cost and Savings-to-Investment Ratios
4、 for Buildings and Building SystemsE1057 Practice for Measuring Internal Rate of Return andAdjusted Internal Rate of Return for Investments inBuildings and Building SystemsE1074 Practice for Measuring Net Benefits and Net Savingsfor Investments in Buildings and Building SystemsE1185 Guide for Select
5、ing Economic Methods for Evaluat-ing Investments in Buildings and Building SystemsE1369 Guide for Selecting Techniques for Treating Uncer-tainty and Risk in the Economic Evaluation of Buildingsand Building Systems2.2 Adjuncts:Discount Factor Tables Adjunct to Practices E917, E964,E1057, E1074, and E
6、112133. Terminology3.1 DefinitionsFor definitions of general terms related tobuilding construction used in this practice, refer to Terminol-ogy E631; and for general terms related to building economics,refer to Terminology E833.4. Summary of Practice4.1 This practice is organized as follows:4.1.1 Se
7、ction 2, Referenced DocumentsLists ASTM stan-dards and adjuncts referenced in this practice.4.1.2 Section 3, DefinitionsAddresses definitions of termsused in this practice.4.1.3 Section 4, Summary of PracticeOutlines the con-tents of the practice.4.1.4 Section 5, Significance and UseExplains the sig
8、nifi-cance and use of this practice.4.1.5 Section 6, ProceduresDescribes step-by-step theprocedures for making economic evaluations of buildings.4.1.6 Section 7, Objectives, Alternatives, and ConstraintsIdentifies and gives examples of objectives, alternatives, andconstraints for a payback evaluatio
9、n.4.1.7 Section 8, Data and AssumptionsIdentifies dataneeded and assumptions that may be required in a paybackevaluation.4.1.8 Section 9, Compute Payback PeriodPresents alter-native approaches for finding the payback period.4.1.9 Section 10, ApplicationsExplains the circumstancesfor which the paybac
10、k method is appropriate.4.1.10 Section 11, LimitationsDiscusses the limitations ofthe payback method.5. Significance and Use5.1 The payback method is part of a family of economicevaluation methods that provide measures of economic perfor-mance of an investment. Included in this family of evaluationm
11、ethods are life-cycle costing, benefit-to-cost and savings-to-investment ratios, net benefits, and internal rates of return.5.2 The payback method accounts for all monetary valuesassociated with an investment up to the time at which cumu-lative net benefits, discounted to present value, just pay off
12、initial investment costs.5.3 Use the method to find if a project recovers its invest-ment cost and other accrued costs within its service life orwithin a specified maximum acceptable payback period(MAPP) less than its service life. It is important to note that the1This practice is under the jurisdic
13、tion of ASTM Committee E06 on Perfor-mance of Buildings and is the direct responsibility of Subcommittee E06.81 onBuilding Economics.Current edition approved Oct. 1, 2015. Published October 2015. Originallyapproved in 1986. Last previous edition approved in 2012 as E1121 12. DOI:10.1520/E1121-15.2Fo
14、r referenced ASTM standards, visit the ASTM website, www.astm.org, orcontact ASTM Customer Service at serviceastm.org. For Annual Book of ASTMStandards volume information, refer to the standards Document Summary page onthe ASTM website.3Available from ASTM International Headquarters. Order Adjunct N
15、o.ADJE091703.Copyright ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States1decision to use the payback method should be made with care.(See Section 11 on Limitations.)6. Procedures6.1 The recommended steps for making an economic evalu-ation of buil
16、dings or building components are summarized asfollows:6.1.1 Identify objectives, alternatives, and constraints,6.1.2 Select an economic evaluation method,6.1.3 Compile data and establish assumptions,6.1.4 Convert cash flows to a common time basis, and6.1.5 Compute the economic measure and compare al
17、terna-tives.6.2 Only the step in 6.1.5, as applied to measuring payback,is examined in detail in this practice. For elaboration on thesteps in 6.1.1 6.1.4, consult Practices E964 and E917, andGuide E1185.7. Objectives, Alternatives, and Constraints7.1 Specify the kind of building decision to be made
18、. Makeexplicit the objectives of the decision maker. And identify thealternative approaches for reaching the objectives and anyconstraints to reaching the objectives.7.2 An example of a building investment problem thatmight be evaluated with the payback method is the installationof storm windows. Th
19、e objective is to see if the costs of thestorm windows are recovered within the MAPP. The alterna-tives are (1) to do nothing to the existing windows or (2)toinstall storm windows. One constraint might be limited avail-able funds for purchasing the storm windows. If the paybackperiod computed from e
20、xpected energy savings and windowinvestment costs is equal to or less than the specified MAPP,the investment is considered acceptable using this method.7.3 Whereas the payback method is appropriate for solvingthe problem cited in 7.2, for certain kinds of economicproblems, such as determining the ec
21、onomically efficient levelof insulation, Practices E917 and E1074 are the appropriatemethods.8. Data and Assumptions8.1 Data needed to make payback calculations can becollected from published and unpublished sources, estimated,or assumed.8.2 Both engineering data (for example, heating loads,equipmen
22、t service life, and equipment efficiencies) and eco-nomic data (for example, tax rates, depreciation rates andperiods, system costs, energy costs, discount rate, project life,price escalation rates, and financing costs) will be needed.8.3 The economic measure of a projects worth variesconsiderably d
23、epending on the data and assumptions. Usesensitivity analysis to test the outcome for a range of the lesscertain values in order to identify the critical parameters.Consult Guide E1369 for guidance on how to use sensitivityanalysis to measure the impact on the payback period fromchanging one or more
24、 values about which there is uncertainty.9. Compute Payback Period9.1 The payback method finds the length of time (usuallyspecified in years) between the date of the initial projectinvestment and the date when the present value of cumulativefuture earnings or savings, net of cumulative future costs,
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