A building is for life - not just for building
Unplanned and unexpected maintenance and refurbishment costs can amount to half of all expenditure on existing buildings. In the UK, such unplanned spending ranges from £8 billion to £20 billion a year. Life cycle costing can drastically reduce unplanned expenditure and is one of the practices promoted by the Building Services Best Practice Programme.
At its most basic, life cycle costing evaluates the total cost of ownership of a facility or plant for a variety of options against a common baseline so that the best choice can be made at the time of procurement.
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A BSEE Article
Article introduction reproduced with permission
