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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.
The concept of life cycle analysis evolved since the concept was initially considered in the 1970s and 1980s, [3] when life cycle studies focused on the quantifying the energy and raw resources used by a building, and the load on the sewerage and sanitation systems imposed by waste generated in the building, during the operational life of the structure.
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 ...
Such data could be combined with conventional life cycle analyses, e.g., to enable life-cycle material/labor cost analyses and long-term economic viability or sustainable design. [149] One study suggests that in LCAs, resource availability is, as of 2013, "evaluated by means of models based on depletion time, surplus energy, etc." [150]
Then in turn secure a life-cycle cost profile ... Life-cycle costing; ISO 15686-6 Buildings and constructed assets - Service life planning: Part 6, ...
An American National Standard entitled APPA 1000 – Total Cost of Ownership for Facilities Asset Management incorporates BIM to factor in a variety of critical requirements and costs over the life-cycle of the building, including but not limited to: replacement of energy, utility, and safety systems; continual maintenance of the building ...
The average cost to build a house is $150 per square foot, but can cost upwards of $500 in larger cities like New York City or San Francisco. "The size and type of house you choose to build will ...
This life cycle costing is a method for assessing the total cost of ownership, taking into account all costs of acquiring, owning and operating, and the eventual disposal of a building. [ 155 ] [ 156 ] [ 157 ] Additional economic payback may come in the form of employee productivity gains incurred as a result of working in a healthier environment.