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What is Life Cycle Costing: Definition and Benefits about?

Life cycle costing (LCC) is a technique that accounts for all expected costs over the entire life of a project or asset. These costs include initial capital costs, operating costs, maintenance costs, and disposal costs discounted to present value. LCC can be used to evaluate investment options, ensure effective asset management, and predict future costs. The investment life of a project is influenced by physical, economic, functional, technological, and social/legal factors of obsolescence. LCC priorities d

Author

Monica Dwi Sani

Language

EN