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Published: Građevinar 72 (2020) 1
Paper type: Subject review
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Determination of residual value of construction machinery based on machine age

Igor Milosevic, Predrag Petronijević, Dragan Arizanovic

Abstract

The relationship between the residual value and service life of machines is investigated in the paper. The study resulted in establishment of several models based on symbolic regression, where the dependent variable is the residual value, while independent variables are machine models, machine age, cumulative number of machine operating hours, and inflation index. The estimate of residual value is crucial for making investment decisions. The investigation has shown that development of a general prognostic mathematical model of residual value of construction machinery can be made using symbolic analysis of an available set of data formed of 61,153 machines.

Keywords
construction machinery, residual value, symbolic regression

HOW TO CITE THIS ARTICLE:

Milosevic, I., Petronijević, P., Arizanovic, D.: Determination of residual value of construction machinery based on machine age, GRAĐEVINAR, 72 (2020) 1, pp. 45-55, doi: https://doi.org/10.14256/JCE.1285.2015

OR:

Milosevic, I., Petronijević, P., Arizanovic, D. (2020). Determination of residual value of construction machinery based on machine age, GRAĐEVINAR, 72 (1), 45-55, doi: https://doi.org/10.14256/JCE.1285.2015

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This paper is licensed under a Creative Commons Attribution 4.0 International License.
Authors:
Igor Milosevic WEB
Igor Milosevic
Company Dabar D.O.O.
Predrag Petronijevic WEB
Predrag Petronijević
University of Belgrade
Faculty of Civil Engineering
Dragan Arizanovic WEB
Dragan Arizanovic
University of Belgrade
Faculty of Civil Engineering