Architecture Commons^™

Embedding Life Cycle Costing In 5d Bim, Dermot Kehily, Jason Underwood,

Articles

Life Cycle Costing (LCC) is the consideration of all ‘relevant’ costs and revenues associated with the acquisition and ownership of an asset. LCC has a number of relevant applications, these include project appraisal; facilities management; procurement and tendering and as a means to evaluate sustainable construction. Although these advantages are well recognised, the process is underutilised due to a number of documented barriers to adoption. Notably these include lack of accurate historical databases; the perceived complexity and time consuming nature of the calculations; lack of a standard LCC methodology, and that clients are not requesting LCC. The research presented is …