Customers & Industries: Federal Highway Adminstration Industry: Transport Product(s): @RISK Application: Pavement Cost Analysis Summary To better understand the practical aspects of the use of probability and Monte Carlo simulation in life-cycle cost-analysis (LCCA), the US Federal Highway Administration developed a model and made arrangements with multiple agencies to prepare case studies illustrating the application of risk analysis to LCCA in pavement design. @RISK Home Customers & Industries Federal Highway Adminstration With limited training in probabilistic principles and in the application of risk-analysis software, state highway agency personnel can apply the probabilistic approach to their current life-cycle cost-analysis procedures, using @RISK. “ ” Using Monte Carlo Simulation f

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