| Summary: | Life cycle cost is a widely recognised method as an important instrument for assessing the economic
performance of energy and water conservation as well as renewable energy projects undertaken in both the public,
country and private sectors. The method applies to any project, public or private, where future savings on operational
costs are weighed against higher initial costs of capital investment. In other news, the life cycle cost in construction
strengthens the resilience of a building, optimizes costs, and, last but not least, allows the choice of the right method for
calculating life cycle costs.
Life cycle cost analysis (LCCA or LCC briefly) is an objective method of measuring and managing costs over
the period of any project or asset. In construction, it allows to compare design options from the perspective of service
life to reduce overall costs. The LCC provides a method for assessing the costs that occur over the resistance period of
a building, from construction, use and maintenance, to the end of its service period. Thus, it provides a stronger view of
long-term costs and savings compared to other methods.
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