What is life-cycle cost planning?

What is life-cycle cost planning?

LCCA is a process of evaluating the economic performance of a building over its entire life. Sometimes known as “whole cost accounting” or “total cost of ownership,” LCCA balances initial monetary investment with the long-term expense of owning and operating the building.

What is a life cycle analysis in design?

Life Cycle Analysis (LCA) Term: The assessment of the effect a product has on the environment (LCA) through five stages of its life: pre-production; production; distribution (including packaging); utilization; and disposal. Designers use LCA to assess and balance environmental impact over a product’s life cycle.

What is the purpose of life cycle cost analysis?

Life-Cycle Cost Analysis (LCCA) Method. The purpose of an LCCA is to estimate the overall costs of project alternatives and to select the design that ensures the facility will provide the lowest overall cost of ownership consistent with its quality and function.

How do you do a life cycle cost analysis?

LCC = C+PV Recurring – PV Residual Value

1. LCC is the life cycle cost.
2. C is the 0-year construction cost.
3. PV recurring is the present value of all recurring cost.
4. PV residual value is the present value of residual value.

What are the components of life cycle cost?

The life-cycle cost consists of the initial construction cost, maintenance cost, rehabilitation cost, salvage value, vehicle operating cost, delay cost, travel time cost, and accident cost.

How much does a life-cycle assessment cost?

Life cycle assessment can be quite expensive, costing up to $50,000 or more per product. The largest cost associated with conducting an LCA lies in the data collection and calculation, and is identified by LCA practitioners in four countries as the most difficult part of doing an LCA.

What are the six stages of the life cycle?

The six Charting the LifeCourse life stages are:

• Prenatal/infancy. From conception through the earliest years of life or babyhood.
• Early childhood. The time in a child’s life before they begin school full-time.
• School age. The years from kindergarten through middle school.
• Transition to adulthood.
• Adulthood.
• Aging.

What is life cycle cost example?

For example, think of a car. The car’s price tag is only part of the car’s overall life cycle cost. You also need to consider expenses for car insurance, interest, gas, oil changes, and any other necessary maintenance to keep the car running. Not planning for these additional costs can set you back.

How do you perform a life cycle cost analysis?

Basic Life-Cycle Cost Analysis Calculation Basically, LCCA consists of adding all the initial and ongoing costs of the structure, product, or component over the time you expect to be using it, subtracting the value you can get out of it at the end of that time, and adjusting for inflation.

What is lifecycle cost example?

What is a life cycle cost example?

Life cycle costing assessment example