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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 ...
ISO 15686 is the in development ISO standard dealing with service life planning.It is a decision process which addresses the development of the service life of a building component, building or other constructed work like a bridge or tunnel.
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.
Benefits. Term Life Insurance. Whole Life Insurance. Duration. Varies; can last for a period of years or to a specific age. Life. Cost. Variable, but usually lower than whole life policies
Engineering Design: Design for X; Time dimension: product life cycle, Product Life Cycle Engineering, product life cycle management (that is not the same like the product cycle in business studies and economics, see e.g. Vernon (1966)). Primarily, the unit of analysis here is a product, or more clearly, one item
Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. [1] [2] It encompasses several specific project management activities including estimating, job controls, field data collection, scheduling, accounting and design, and uses technology to measure cost and productivity through the full life-cycle of ...
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