Life cycle cost
The whole-life cost of owning an asset. In construction, it is the total of all costs related to the planning, design, construction, operation, maintenance, and disposal costs of an asset for its given life expectancy.
Life cycle cost encompasses all costs associated with a building throughout its lifespan, including initial construction, maintenance, operation, and disposal. Analyzing life cycle costs aids in making informed decisions about design, materials, and systems to optimize long-term value and sustainability.
Used in a sentence
Evaluating the life cycle cost helps us understand the long-term value of the building.
Synonyms/variation
LCC
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