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Irrigation Dictionary : Table of Contents (members login required)\t
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9142. Economic life of a project : The life of a project determined by the point in time at which the effect of economic and physical factors (physical depreciation, obsolescence, changing requirements for project services, and time discounts and allowances for risk and uncertainty) is to cause the costs of continuing the project to exceed the additional benefits to be expected from continuation. The economic life of a project is generally less than its physical life. The period of analysis can be shorter or equal to the economic life of a project.

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