Life Cycle Cost Of Building

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Abstract- It is common that the first cost is the main criteria at the time of making choice between different systems or assets. Thus it has become essential to optimize it throughout their entire life cycle from initial stage to final stage. i. e acquisition to the disposal of an asset. Life cycle costing is concerned with optimizing value of physical asset or system by considering all cost factors relating to asset during its operational life. An ability to determine the life cycle cost of building will help to evaluate the value of existing structure and make better decision for new structure or system and it also takes into account the time value of money, that is, the variation in the cost due to its timing [1].The life cycle cost analysis helps to estimate Life Cycle cost and identify the lowest cost alternative that accomplishes paper objective. An attempt has been made in this work to determine the life cycle cost of bunglow by Net Present Value of discounting approach and attempting to find out cost effective areas hence more attention is given towards them to reduce total life cycle cost.
Keywords- Life Cycle Cost(ing), cost optimization, Net Present Value, operational life, life cycle

Life Cycle Costing (LCC) was originally designed for investment purposes in the U.S. Department of Defence [7]. The importance of LCC for the U.S. Department of Defence was shown by the fact that the operational costs regarding to weapon systems, where 75% of the
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