Life Cycle Cost - KBCN0385
Life Cycle Costing (LCC) is a methodology that aims at selecting the optimal option amongst a number of option appraisals.
An LCC should therefore consider:
- At least two design option appraisals and,
- Each design option appraisal includes at least two cash flow scenarios.
For example, best case, worst case, and most likely case.
This allows project teams and clients to make informed choices about the long term financial implications of different design decisions.
27-Mar-2024 - Wording and requirements clarified. Scheme applicability updated.
Information correct as of 16