Standard Practice for Measuring Life-Cycle Costs of Buildings and Building Systems
|Publication Date:||10 October 2002|
This practice establishes a procedure for evaluating the life-cycle cost (LCC) of a building or building system and comparing the LCCs of alternative building designs or systems that satisfy the same functional requirements.
The LCC method measures, in present-value or annual-value terms, the sum of all relevant costs associated with owning and operating a building or building system over a specified time period.
The basic premise of the LCC method is that to an investor or decision
maker all costs arising from
an investment decision are potentially important to that decision,
including future as well as
present costs. Applied to buildings or building systems, the LCC
encompasses all relevant costs
over a designated study period, including the costs of designing,