Although the replacement chain, or common life, approach is appealing for dealing with projects with different lives, it is not used in industry because there are no projects which meet the assumptions the method requires.

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This statement is not entirely accurate. While it is true that the replacement chain approach has limitations and may not be applicable to all projects, there are some industries where it is commonly used. For example, in the oil and gas industry, this approach is often used for decision-making related to pipeline replacements and upgrades, where infrastructure has different lifespans.

Although the Replacement Chain, or Common Life, Approach Is Appealing