A Replacement Cost Model is simply a list of Average Replacement Costs associated with each of your Asset Classes.
You can build as many Cost Models as you'd like. This will let you experiment with different Budget Scenarios with different assumptions.
Let's assume you have the following Asset Classes and Service Durations:
This is a simple but reasonable mix of Asset Classes.
For a new Cost Model, you may set the following replacement costs for each of these Asset Classes (remember, you can set it to whatever you’d like and you can make more than one!)