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Life-cycle cost analysis. 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.
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 ...
Target costing is an approach to determine a product's life-cycle cost which should be sufficient to develop specified functionality and quality, while ensuring its desired profit. It involves setting a target cost by subtracting a desired profit margin from a competitive market price. [1] A target cost is the maximum amount of cost that can be ...
Alaska State Dept. of Education and Early Development, Juneau. This handbook presents guidelines on the Life Cycle Cost Analysis (LCCA) of building operations over the life of a building to assist school districts and consultants with evaluating proposed educational facility construction projects. It defines the terminology found in an LCCA ...
ISO 15686. 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. Its approach is to ensure a proposed design life has a structured response in establishing ...
life cycle of the project, the evaluator is ready to engage in the process evaluation. There are several conventional evaluation techniques that can be used to discern and describe the CoC planning process itself. They are: participant observation, content analysis, situational analysis, in-house surveys, and interviews.
Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. 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 enterprise ...
BIM implementation is targeted towards BIM Stage 2 by the year 2020 led by the Construction Industry Development Board (CIDB Malaysia). Under the Construction Industry Transformation Plan (CITP 2016–2020), [65] it is hoped more emphasis on technology adoption across the project life-cycle will induce higher productivity.