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Life-cycle cost analysis (LCCA) is an economic analysis tool to determine the most cost-effective option to purchase, run, sustain or dispose of an object or process. The method is popular in helping managers determine economic sustainability by figuring out the life cycle of a product or process.
Whole-life cost is the total cost of ownership over the life of an asset. [1] [clarification needed] The concept is also known as life-cycle cost (LCC) or lifetime cost, [2] and is commonly referred to as "cradle to grave" or "womb to tomb" costs. Costs considered include the financial cost which is relatively simple to calculate and also the ...
Life cycle interpretation is a systematic technique to identify, quantify, check, and evaluate information from the results of the life cycle inventory and/or the life cycle impact assessment. The results from the inventory analysis and impact assessment are summarized during the interpretation phase.
Target costing is an approach to determine a product's life-cycle cost which should be sufficient to develop specified functionality and quality, while ensuring its desired profit. It involves setting a target cost by subtracting a desired profit margin from a competitive market price. [1]
The cost of a electricity production depends on costs during the expected lifetime of the generator and the amount of electricity the generator is expected to produce over its lifetime. The levelized cost of electricity (LCOE) is the average cost in currency per energy unit, for example, EUR per kilowatt-hour or AUD per megawatt-hour. [3]
Post-use costs are classified as both direct and indirect costs. Direct post-use costs are directly paid by the consumer and occur due to the disposal and transportation of the products. An efficient measurement used to lower post-use costs is the extension of product life cycles through repair, reuse or upgrading of used products.
Then in turn secure a life-cycle cost profile (or Whole-life cost when called for) whilst addressing environmental factors like life cycle assessment and service life care and end of life considerations including obsolescence and embodied energy recovery. Service life planning is increasingly being linked with sustainable development and ...
The eco-costs of a product are the sum of all eco-costs of emissions and use of resources during the life cycle "from cradle to cradle". The widely accepted method to make such a calculation is called life cycle assessment (LCA), which is basically a mass and energy balance, defined in the ISO 14040, and the ISO 14044 (for the building industry ...