The term Lifecycle Cost (also Whole of Life Cost) refers to the total cost of ownership over the life of an asset including; planning, design, construction/acquisition, operation, maintenance, renewal, finance and disposal costs.
The International Infrastructure Management Manual defines Lifecycle Cost as "the Total cost of an asset throughout its life including, planning, design, construction, acquisition, operation, maintenance, rehabilitation and disposal costs".
External Links & References
- ANAO Life Cycle Costing
- Australian Standard AS4356:1999 Life cycle costing An application guide
- Lifecycle Cost Guidelines for Sport and Recreation Facilities (Western Australian Department of Sport Recreation)
- Google Search (Lifecycle Cost)
- Google Search (Whole of Life Cost)
- Whole of Life Costing for Australian Government Property Management (Department of Finance)