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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.
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.
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 ...
Combining such data sets can enable accounting for long chains (for example, building an automobile requires energy, but producing energy requires vehicles, and building those vehicles requires energy, etc.), which somewhat alleviates the scoping problem of traditional life-cycle assessments. EIO-LCA analysis traces out the various economic ...
The financial costs in LCCA include upfront capital expenditures, ongoing operations and maintenance costs, replacement costs, and the residual value of assets at the end of the life-cycle. The financial costs of each alternative are discounted into present value terms to account for different timing of costs.
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 ...
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For a complex engineering system containing thousands of assemblies, sub-assemblies, components, organized into several levels of indenture and with a number of possible repair decisions, LORA seeks to determine an optimal provision of repair and maintenance facilities to minimize overall system life-cycle costs.
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