What does life cycle cost mean in construction?
Short definition
Life cycle cost is the total cost of owning, operating, maintaining, and eventually replacing a building or system.
Longer explanation
It helps owners compare options beyond first cost by considering energy, maintenance, durability, replacement, and operating impacts.
Example in context
“The project team reviewed the life cycle cost during the construction phase.”
Common users
- Owners
- Architects
- Contractors
- Construction managers