ABSTRACT
The Life-Quality Index (LQI) is a tool for the assessment of risk reduction initiatives that would enhance safety and quality of life. The application of the LQI to maintenance decision problems helps determining an optimal trade-off between the risk and consequences of traffic accidents and the reduction in maintenance efforts. The LQI is applied to quantify the societal willingness to pay – which is an acceptable level of public expenditure in exchange for a reduction in the risk of death that results in improved life quality – and to obtain an optimal balance of the costs of maintenance and risk. The feasibility of this approach is investigated using a realistic example as a case study. The influence of maintenance efforts on road-surface quality and traffic safety are assessed.
