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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.
Whole-life cost. 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 ...
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 ...
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, such as initial and future expenses, residual value, real ...
Such data could be combined with conventional life cycle analyses, e.g., to enable life-cycle material/labor cost analyses and long-term economic viability or sustainable design. One study suggests that in LCAs, resource availability is, as of 2013, "evaluated by means of models based on depletion time, surplus energy, etc." [147]
applicable life cycle stages as discussed in this Framework to maximize project’s value to the Department for a given level of cost or minimize cost for any acceptable level of outcome. • Improved oversight by encouraging and enabling integrated and coordinated reviews. 3 Please refer to
Life cycle costing (or life cycle cost analysis) is the total cost analysis of a process or system. This includes costs incurred over the life of the system and is frequently used to find the most cost-effective means for providing goods and services.
A systematic process of reviewing and analyzing the requirements, functions and elements of systems, project, equipment, facilities, services, and supplies for the purpose of achieving the essential functions at the lowest life-cycle cost consistent with required levels of performance, reliability, quality, or safety.
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