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2011 NPS Visitor Hiker WTP

#### Life Cycle Benefits Calculator

Introduction
This tool calculates life cycle benefits totals for output uris. The discounted totals can include up to 10 subbenefits and impacts. SubBenefits from health care investments might include earned income, government benefits, and business returns. SubBenefits from building investments might include commodity production, commercial rental, retail sales, and revenue-sharing returns. Impacts, such as environmental impacts, can be taken from associated life cycle analyses or other calculators.
The calculator updates the base output's Price with the calculated totals. The calculator does not change the base output's Units or Amounts.

Calculation View Description
Sample data set used in a DevTreks tutorial. v210a

Version: 1.2.0

#### Relations

Use In Childs?
Overwrite Childs?
SubBenefit 1: Willingness To Pay: 25.00
SubBenefit 2: Nature Education Capital: 20.00
SubBenefit 3: :
SubBenefit 4: :
SubBenefit 5: :
SubBenefit 6: ;
SubBenefit 7: ;
SubBenefit 8: ;
SubBenefit 9: ;
SubBenefit 10: ;
Output.Price: 45.00
Total LCB: 45.00
Total EAA: 0.00
Total Unit LCB: 45.00
Unit: visit
Unit Total Amount: 1.000

#### Step 4 of 4. Save

Method 1. Do you wish to save step 2's calculations? These calculations are viewed by opening this particular calculator addin.

#### Step 1

• Step 1. Real and Nominal Rates: The nominal rate includes inflation while the real rate does not. Only the real rate (with constant dollars) is used in this version of the calculator.

#### Step 2

• Step 2. SubBenefits: Up to 10 subbenefits can be defined.
• SubBenefit Aggregation: The label is used to aggregate subbenefit. When possible, use labels contained in industry-standard Work Breakdown Schedules, or Classification systems. Because of display limitations, only 10 subbenefit can be displayed.
• Name: Name of the subbenefit. Examples include sales, rentals, revenue-sharing returns, and subsidies ...
• Label: Work Breakdown Structure label used to aggregate subcosts and subbenefits.
• Price Type: Type of parent Input or Output price to update when the calculators are saved. Options include oc (Operating Costs), aoh (Allocated Overhead Costs), cap (Capital Costs), or rev (Revenues).
• Amount: The quantity of the LCA element to be used to determine costs or benefits. Unit costs and benefits often will use an amount of 1.
• Unit: The unit of measurement of the LCA element.
• Price: The unit price of the LCA element to be used to determine costs or benefits.
• Escalate Rate: Rate of price increase or decrease over the life span of the output. Will be divided by 100 in the calculations. The initial subcost or subbenefit will be multiplied by this rate and used with the linear or geometric Escalate Type property.
• Escalate Type: Type of price escalation. Type of price escalation used to calculate life cycle costs and benefits. Use the ‘none’ option, along with the Discount Years and Salvage Value properties to determine a present value subcost or subbenefit. Use the 'upvtable' option, or uniform present value, if NIST 135-style price indexes are being used to compute escalated benefits (and complete the Discount Factor property). Use the 'spv', or single present value, option to calculate a discounted benefit (and complete the Discount Years property). Use the 'caprecovery' option to calculate an amortized annual benefit (and complete the Discount Years and Salvage Value properties; in addition, the Discount Times property can be used to compute 'cost/benefit per hour' of use style calculations). Use the ‘uniform’ option along with Step’s 3 properties to calculate a uniform price escalation. Use the ‘linear’ or ‘geometric’ options, along the Escalate Rate property, to calculate linear or geometric series price escalation.
• Discount Factor: A present value taken from NIST 135-style price escalation indexes. The index should be for a period that sums together the service life of the project and the planning construction years. See table 5-4 in the NIST 135 reference.
• Discount Years: The number of years to use in single present value and capital recovery discount formulas. Used when the Escalation Type property is 'spv' (Single Present Value) or "caprecovery" (Capital Recovery).
• Discount Year Times: The number of times to use the Discount Years property to calculate recurrent benefits. Only used when the Escalate Type property is 'spv', or Single Present Value, and the Discount Years property is greater than zero. Total number of times will not exceed the service life of the investment.
• Other Price Type: The type of price used to calculate subcosts or subbenefits. Options include none, market, list, contracted, government, production, copay, premium, incentive, penalty, fee, engineered, and consensus. When possible, use market prices.
• Salvage Value: Used with an Escalation Type of spv and Service Life Years > 0 to calculate a discounted salvage, or residual, value. Also used with an Escalation Type of caprecovery and DiscountYears > 0 to calculate an annual capital recovery benefit for operating budgets.
• Total Cost: Not a data entry field. The final discounted benefit.
• Per Unit Cost: Not a data entry field. The final discounted benefit divided by the Per Unit Amount.

#### Step 3

• Step 3. Use Same Calculator Pack In Descendants?: True to insert or update this same calculator in children.
• Step 3. Overwrite Descendants?: True to insert or update all of the attributes of this same calculator in all children. False only updates children attributes that are controlled by the developer of this calculator (i.e. version, stylehsheet name, relatedcalculatorstype ...)
• Step 3. What If Tag Name: Instructional videos explaining the use of what-if scenario calculations should be viewed before changing or using this parameter.
• Step 3. Related Calculators Type: When the Use Same Calculator Pack in Descendant is true, uses this value to determine which descendant calculator to update. Inserts a new descendant when no descendant has this same name. Updates the descendant that has this same name.
• Step 3. Service Life Years: The life span of the output.
• Step 3. Planning Construction Years: Number of years in the planning and construction period. Also known of the preproduction period.
• Step 3. Years From Base Date: The base date is the input or output’s date. Enter an integer that specifies the specific year within the Planning Construction Years when the input is installed. The NIST reference uses examples that are installed in 1 year and given a value of 1 for this property. A project with a Planning Construction Years greater than 1 would insert whichever year within the period when the input is actually installed.
• Step 3. Target Type: The Benchmark option is used to define a baseline, or benchmark, output. The Actual option is used to define the actual results for an output. The Full Target and Partial Target options are used to carry out progress and goal-related analyses.
• Step 3. Alternative Type: Type of alternative used in the comparison of different outputs.
• Step 3. Per Unit Amount: An amount used to derive per unit benefits. For example, a 1000 ft2 (m2) house would use a value of 1000.
• Step 3. Per Unit Amount: A unit used in per unit benefits. For example, a 1000 ft2 (m2) house would use a value of ft2 (m2).

#### Summary Benefits

• Individual SubBenefits: The total discounted benefit derived from running the calculator.
• Total Discounted Benefit price: Sum of the discounted subbenefits that will be added to parent output.
• Total Life Cycle Benefit: Sum of the Total Discounted Benefits.
• Total Equivalent Annual Annuity: Amortizes the life cycle benefit over the service life years, using an equivalent annual annuity discounting formula.
• Total Per Unit Benefit: Total Life Cycle Benefit divided by the Per Unit Amount.
• Per Unit Unit: Unit of measurement for the Total Per Unit Benefit.

#### References

• Hallam, Eidman, Morehart and Klonsky (editors): Commodity Benefit and Returns Estimation Handbook, Staff General Research Papers, Iowa State University, Department of Economics, 1999
• Lippiatt: BEES 4.0, Building for Environmental and Economic Sustainability Technical Manual and User Guide. US Department of Commerce, National Institute of Standards and Technology. NIST 7423. 2007
• National Institute for Standards and Technology Handbook 135: Life-Cycle Costing Manual. 1996 Edition. US Department of Commerce
• United States Government Accountability Office: Applied Research and Methods. GAO Cost Estimating and Assessment Guide. Best Practices for Developing and Managing Capital Program Costs. March, 2009.

Current view of document
2011 NPS Visitor Hiker WTP
Output Group
National Park Recreation Outputs
Output
2011 NPS Visitor Hiker WTP
SubBenefit Name SubBenefit Amount SubBenefit Unit SubBenefit Price SubBenefit Total SubBenefit Unit Total SubBenefit Label
Unit Amount Unit Total Revenue Total EAA Total LCB Total Unit Benefit Service Life P/C Years Yrs From Base Date Target Type / AlternType
Willingness To Pay 1.000 visitor 25.000 25.00 25.00 wtp02
These calculations derive from ...
Nature Education Capital 1.000 visitor 20.000 20.00 20.00 educate01
These calculations derive from ...
1.000 visit 45.00 0.00 45.00 45.00 0.00 0.00 0.00 accepted;
Description : Sample data set used in a DevTreks tutorial. v210a
Output Series : 2007 NPS Visitor Hiker WTP
Willingness To Pay 1.000 visitor 30.000 30.00 30.00 wtp02
These calculations derive from ...
Nature Education Capital 1.000 visitor 22.000 22.00 22.00 educate01
These calculations derive from ...
1.000 visit 52.00 0.00 52.00 52.00 0.00 0.00 0.00 A; benchmark
Description : Sample data set used in a DevTreks tutorial. v139a
Output Series : 2008 NPS Visitor Hiker WTP
Willingness To Pay 1.000 visitor 21.000 21.00 21.00 wtp02
These calculations derive from ...
Nature Education Capital 1.000 visitor 17.500 17.50 17.50 educate01
These calculations derive from ...
1.000 visit 38.50 0.00 38.50 38.50 0.00 0.00 0.00 B; actual
Description : Sample data set used in a DevTreks tutorial. v139a
Output Series : 2009 NPS Visitor Hiker WTP
Willingness To Pay 1.000 visitor 22.000 22.00 22.00 wtp02
These calculations derive from ...
Nature Education Capital 1.000 visitor 18.000 18.00 18.00 educate01
These calculations derive from ...
1.000 visit 40.00 0.00 40.00 40.00 0.00 0.00 0.00 C; actual
Description : Sample data set used in a DevTreks tutorial. v139a
Output Series : 2010 NPS Visitor Hiker WTP
Willingness To Pay 1.000 visitor 23.500 23.50 23.50 wtp02
These calculations derive from ...
Nature Education Capital 1.000 visitor 19.000 19.00 19.00 educate01
These calculations derive from ...
1.000 visit 42.50 0.00 42.50 42.50 0.00 0.00 0.00 D; actual
Description : Sample data set used in a DevTreks tutorial. v137c
Output Series : 2011 NPS Visitor Hiker WTP
Willingness To Pay 1.000 visitor 25.000 25.00 25.00 wtp02
These calculations derive from ...
Nature Education Capital 1.000 visitor 20.000 20.00 20.00 educate01
These calculations derive from ...
1.000 visit 45.00 0.00 45.00 45.00 0.00 0.00 0.00 E; actual
Description : Sample data set used in a DevTreks tutorial. v139a
Dataset: 2011 NPS Visitor Hiker WTP IRI This building construction benefit estimate is computed using life cycle cycle output calculators and totals, statistics, incremental change, and progress analyzers.