What is life cycle cost of a building?
The life cycle cost, often abbreviated LCC [7], is the total cost associated with building design and construction, building operation and maintenance, in addition to the costs associated with building disposal at the end of its life cycle [2], [3], [4].
What percentage are first costs vs life cycle costs for a building?
Viewed over a 30 year period, initial building costs account for approximately just 2% of the total, while operations and maintenance costs equal 6%, and personnel costs equal 92%.
How do you evaluate life cycle cost?
Managers can evaluate life-cycle costs in three ways:
- Cost comparison is the present value for different alternatives.
- Cost-effectiveness looks at each alternative choice on a cost-reduction basis, payback period, or per-use rate.
What is life cycle cost in value engineering?
Life-cycle cost analysis is the process during which the project team assesses the cost of a building, building material, or piece of equipment throughout its entire useful life. It not only focuses on the more obvious acquisition and construction costs, but also on how much it will cost to operate and maintain.
What is life cycle analysis of buildings?
A life cycle assessment of a building normally involves evaluating its whole life cycle . This means including all of the stages in the assessment – raw material supply, manufacture of construction products, the construction process stage, use stage, demolition and when the materials are disposed of or recycled .
What is cost planning in construction?
Definition. Cost planning and control is the estimation of costs, the setting of an agreed budget, and management of actual and forecast costs against that budget.
What are the 5 stages of a Life Cycle Assessment?
5 Steps of a product lifecycle: From Cradle To Grave
- Raw Material Extraction.
- Manufacturing & Processing.
- Transportation.
- Usage & Retail.
- Waste Disposal.
How do you calculate building cost?
The cost of a structure is calculated approximately as the total cubical contents (Volume of buildings) multiplied by Local Cubic Rate. The volume of building is obtained by Length x breadth x depth or height. The length and breadth are measured out to out of walls excluding the plinth off set.
What is the lifespan of a building?
The “life cycle” part means that LCC assesses all costs that occur over the building’s lifetime including construction costs, maintaining, operating, and end-of-life related costs. To be more specific, the lifespan of a building consists of five main stages: concept planning, design, construction, operations, and replacement or disposal.
What is life-cycle cost analysis?
Life-cycle cost analysis is the process during which the project team assesses the cost of a building, building material, or piece of equipment throughout its entire useful life. It not only focuses on the more obvious acquisition and construction costs, but also on how much it will cost to operate and maintain.
How much does a roof cost over 20 years?
The total life cycle cost over 20 years, not incorporating a Present Value analysis, tells a different story. Over 20 years, the premium black roof with a white granular surface will cost an estimated $115,220; the premium white membrane roof will cost $46,600.
What is lowest life-cycle cost?
Lowest life-cycle cost (LCC) is the most straightforward and easy-to-interpret measure of economic evaluation. Some other commonly used measures are Net Savings (or Net Benefits), Savings-to-Investment Ratio (or Savings Benefit-to-Cost Ratio), Internal Rate of Return, and Payback Period.
