Because of the complexities of the railway track system compositions and their degradation mechanisms, the existing models built for relevant LCC estimation are either too simplified or focused on a part of the system. In this paper, a simulationbased model is proposed which is to incorporate all of the major track components such as rail, ballast and sleepers. A cost breakdown methodology is adopted to estimate the cost on a component-by-component and activity-by-activity basis. The interactions of track components and between maintenance and track components can be considered during the simulation process. Some activities whose implementation is purely experience-based can be loosely added as extra cost elements by disregarding its connection with other activities. Though attempting to embrace all, the simulationbased model is still considered easier to implement and potentially faster to run compared to the more complex and probably more powerful models including the Petri-Net models: the tools for its development are readily available. Apart from that, only knowledge on Monte Carlo simulation is required. In addition to providing a tool for the planning of maintenance actions, the model may also be used to evaluate different track form options. By replacing the simulation-based models with parametric models or limiting the focus to one or several track components, the model can be simplified conveniently.
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