Life Cycle Cost Of The Building

2015 Words9 Pages
When a building is constructed, along with the cost for building the structure there are various other costs that are taken into consideration for the total cost of the structure. There is the ownership cost, cost of purchasing the land, operating the building, maintaining it so that the building sustains for a long time and disposing of objects that are no more functional. This means that along with knowing the cost of constructing a structure, it is absolutely necessary for us to consider the life-cycle cost of the building. With the increasing popularity of sustainable construction, the need of life cycle cost analysis will become imperative in the future. Sustainable construction is a way of responsibly creating and managing a healthy…show more content…
Ignoring the true costs of owning and maintaining a high quality installation over time (i.e. life cycle) can result in unexpected costly decisions. A LCCA enables clients to determine the best and the lowest cost way to accomplish a project. This in turn enables projects to be evaluated by their long-term costs rather than just their initial construction cost Often, cost saving ideas are generated that can be applied to more than one alternative. These ideas can direct the final design of a project toward cost-effective construction and enhance the overall value of a project. This analysis can be used to study new construction projects, material options appraisals (i.e., compare the long term cost effectiveness of two or competing materials), or to examine preservation strategies for existing assets. Sustainable construction presumes a whole systems approach that considers the social, environmental, and economic consequences of decisions made within the construction industry. Clients implementing sustainable principles into their buildings definitely require the total cost of their investment in the building rather than just the initial capital cost. It is becoming increasingly paramount that clients use an investment appraisal technique that uses a whole life approach. Design decisions related to the building’s energy efficiency such as orientation, thermal efficiency and airtightness can influence the buildings costs in use and LCC can be used to
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