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Arditi, D, Akan, G T and Gurdamar, S (1985) Reasons for delays in public projects in Turkey. Construction Management and Economics, 3(02), 171-81.

Cusack, M M (1985) The use of integer linear programming for modelling project control information. Construction Management and Economics, 3(02), 91-104.

Flanagan, R and Norman, G (1985) Sealed bid auctions: an application to the building industry. Construction Management and Economics, 3(02), 145-61.

Gray, C and Little, J (1985) A systematic approach to the selection of an appropriate crane for a construction site. Construction Management and Economics, 3(02), 121-44.

Hague, D J (1985) Incentives and motivation in the construction industry: a critique. Construction Management and Economics, 3(02), 163-70.

Marshall, H E (1985) A graphical approach to discount payback. Construction Management and Economics, 3(02), 105-20.

  • Type: Journal Article
  • Keywords: building economics; cost-benefit analysis; discounted payback
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446198500000009
  • Abstract:

    Construction planners and building owners use payback frequently as an index of economic performance. Discounted payback, which considers the time value of money in measuring the time to project pay-off, are more accurate index of project cost effectiveness than simple payback. But being more difficult to calculate, it is used less often than simple payback. This paper provides a unique set of graphs that helps decision makers find discounted payback quickly and easily without complex calculations. Appropriate applications of simple and discounted pay-backs are described. Examples of economic efficiency losses from using payback instead of more appropriate evaluation measures and from using simple instead of discounted payback are presented.