Overview
Life cycle costing (LCC) is the economic appraisal of a potential investment or existing asset taking into account immediate and longer-term costs and benefits. Its purpose is to assist decision-making and it can be applied to individual products or components, to complete building services systems, or to entire construction or refurbishment projects. With such a wide range of possible applications, it is important that the underlying principles of life cycle costing are clearly understood by everyone concerned in procuring and delivering LCC analyses.