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The purpose of this Topic Guide is to introduce the basics of LCA, while also giving a glimpse of the scale of that complexity.
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.