This paper presents an efficient, accurate, and simple Markov chain model for the life-cycle analysis of individual bridges and bridge groups. The proposed model includes the effect of deterioration, maintenance actions, bridge failures, and rehabilitations. Compared to a comprehensive probabilistic simulation of the life-cycle, the proposed approach is characterized by a computational efficiency increased by several orders of magnitude and by simplicity of implementation. For practical applications, the proposed model provides also good accuracy. In addition, the model is appropriate for risk analysis. In fact, it treats explicitly all the sources of direct and indirect consequences: the bridge operational states, the bridge failures, and the maintenance/rehabilitation actions performed on the bridge. To demonstrate the technique, a realistic application is presented. (c) 2012 Elsevier Ltd. All rights reserved.