Life Cycle Costing (LCC) is a methodology that aims to generate a cash flow prediction over a given period of time for a building and undertake option appraisal studies to evaluate various solutions in order to determine the optimal option.
An LCC should therefore consider:
- At least two design option appraisals and,
- Include comparison cash flow scenarios for each design stage option appraisal in order to determine the most appropriate option.
This allows project teams and clients to make informed choices about the long term financial implications of different design decisions.
24-Oct-2024 - Updated for clarity 27-Mar-2024 - Wording and requirements clarified. Scheme applicability updated.
