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Saturday, February 1, 2020 | History

2 edition of Life cycle costing for construction found in the catalog.

Life cycle costing for construction

Roger Flanagan

Life cycle costing for construction

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  • 25 Currently reading

Published by Published on behalf of the Royal Institution of Chartered Surveyors by Surveyors Publications in London .
Written in English

    Subjects:
  • Building -- Estimates.

  • Edition Notes

    Bibliography, p123-127.

    Statementthis report was sponsored by the Quantity Surveyors Division of the Royal Institution of Chartered Surveyors and ; was prepared at the Department of Construction Management, University of Reading, between April 1981 and February 1983 ; by Roger Flanagan, George Norman with J. David Furbur ; the Steering Committee appointed by the RICS comprised Geoffrey M. Townsend, Graham A.J. Smith, Patrick Venning.
    ContributionsNorman, George, 1946-, Furbur, J. David., Royal Institution of Chartered Surveyors.
    Classifications
    LC ClassificationsTH435
    The Physical Object
    Pagination128p. :
    Number of Pages128
    ID Numbers
    Open LibraryOL22537872M
    ISBN 100854061940

    Future costs are usually subject to a level of uncertainty that arises from a variety of factors, including: The prediction of the utilization pattern of the asset over time; The nature, scale, and trend of operating costs; The need for and cost of maintenance activities; The impact of inflation; The opportunity cost of alternative investments; The prediction of the length of the asset's useful life. Training or maintaining costs had to be considered for the total cost calculation, too. All costs are entered as base-year amounts in today's dollars; the LCCA method escalates all amounts to their future year of occurrence and discounts them back to the base date to convert them to present values. LCCA can be repeated throughout the design process if more detailed cost information becomes available. Other times, complementary non-renewable systems may be downsized, offering savings in other forms.

    Technological developments and changes in user requirements are key factors impacting the effective life of an asset. With it, you can calculate the cost impact of energy savings, though we highly recommend digging deeper into the real energy costs of your particular area to get the most accurate picture of energy costs and savings. Description A. That means that by using LCC a company gets the possibility to influence future product costs, for instance through modification of the use of the product itself, at a very early stage.

    The international examples included here illustrate practically the methodology of life cycle costing and the application of life-cycle cost analysis to identify the most appropriate method for assessing the relative merits of competing project implementation alternatives. Yet, there may still be some uncertainty associated with the LCC results. Service period: The service period begins when the completed building is occupied or when a system is taken into service. Product life cycle may be extended by finding new uses or users or by increasing the consumption of the present users. It shows that as a project moves from strategic planning that the majority of decisions have been made that provide the majority of the cost to the project.


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Life cycle costing for construction book

At the initial design stage, data on the amount of energy consumption for a building can come from engineering analysis or from a computer program such as eQuest. Change Levels of Service - Most life cycle costing assumes a constant Level of Service across options being compared. However, a product in a mature stage needs more to be controlled than to be planned.

Life Cycle Costing

LCC Model is basically an accounting structure which enables the estimation of an asset components cost. Identification of cost elements which act as cost drives for the LCC of an asset in order to focus design, development, acquisition or asset support efforts.

Determination of the LCC for an asset in order to assist planning, contracting, budgeting or similar needs. LCCA was among the many design and analysis tools used to transform this turn of the century building located in downtown Tacoma, WA into an energy efficient showcase building.

Therefore, the LCC is an important support for the development of different strategies Lindholm and Suomala, Both types of calculation result in identical present-value life-cycle costs. To formalize the inclusion of non-monetary costs or benefits in your decision making, you can use the analytical hierarchy process AHPwhich is one of a set of multi-attribute decision analysis MADA methods that consider non-monetary attributes qualitative and quantitative in addition to common economic evaluation measures when evaluating project alternatives.

Each phase of the product life-cycle poses different threats and opportunities that may require different strategic actions. Afterwards the economical impact has to be evaluated and the needed resources have to be planned. Assets can range from entire estates down to specific systems and components and projects can range in size from small plant replacements, to major refurbishment and new-build works.

There are a number of factors that need to be managed in order to maximise return in a product. This differential energy price escalation needs to be taken into account when estimating future energy costs.

All the costs are usually discounted and total to a present-day value known as net present value NPV.

Life cycle cost analysis in construction: getting the best long

DOE does not publish water price projections. Energy prices: Quotes of current energy prices from local suppliers should take into account the rate type, the rate structure, summer and winter differentials, block rates, and demand charges to obtain an estimate as close as possible to the actual energy cost.

Together with profitability assessment and the facilitating of decisions, the importance of these objects fluctuates over the different phases Dunk, They are sometimes needed to meet specific regulatory requirements. All LCC consultancy work from BSRIA is conducted in accordance to BS ISOPart 5, providing a methodology for the systematic economic evaluation of combined capital, operating and end of life costs of construction project alternatives, to ensure long-term value for project funds.

The course includes delegate examples so attendees can practise using life cycle costing techniques in a safe environment. The Effect of Intervention A single intervention option for the entire life cycle is not likely to be the best approach to maximizing the life extension for an asset.

Since sensitivity analysis and break-even analysis are two approaches that are simple to perform, they should be part of every LCCA.Effects of Life-Cycle Costing: Life cycle costing helps companies to be aware of where their products are in their life cycles, because in addition to the sales effects, the life-cycle stage may have a tremendous impact on costs and profits.

Life cycle costing. Advantages, disadvantages and criticism of this procedure

The life-cycle impact on each of these items is shown in Exhibit standardized method of life cycle costing for construction procurement Download standardized method of life cycle costing for construction procurement or read online books in PDF, EPUB, Tuebl, and Mobi Format.

Click Download or Read Online button to get standardized method of life cycle costing for construction procurement book now. This site. Life Cycle Costing for Construction 1st Edition. By J.W. Bull. Routledge. pages. an approach known as life cycle costing, which has the ultimate aim of minimising total lifetime expenditure.

taking the lifetime costs of the structure into consideration. This new book provides an insight into how whole life costing is affecting our.

Life-Cycle Costing. Life-cycle costing (LCC) is a term commonly used to describe a general method of economic evaluation by which all relevant costs over the life of a project are accounted for when determing the economic efficiency of the project.

Product acquisition involves an examination of the support cost of major equipment over its total life years. Depending on the type of equipment, support costs may range from 10 to times the cost of acquisition.

"Life Cycle Costing: Techniques, Models and Applications" offers a comprehensive approach to the entire field, and treats it in such a way that the reader requires no previous 5/5(1). LIFE CYCLE COSTING (LCC), by definition, refers to an analysis technique which encom- passes all costs associated with a product from its inception to its disposal.

Through LCC one seeks to minimize the cost of obtaining a cer- tain level of output. The general concept of a life cycle cost is not new.