Explaining Life Cycle Costing
LCC allows the design team to predict and assess the cost performance of a built property throughout its life cycle. It enables the developer to determine the lowest overall cost of ownership whilst maintaining a building’s quality and function.
Implementing LCC methodology at an early stage to assess the costs and performance of a development’s life cycle can help you to maximise the outcome and take opportunities to positively influence the project.
It can provide a high level of strategic information for the design team to make informed and conscious decisions on capital investment. LCC can demonstrate how decreasing capital costs may not save money in the long term by comparing these to maintenance costs.