Life cycle cost
The whole-life cost of owning an asset. In construction, it is the total of all costs related to the planning, design, construction, operation, maintenance, and disposal costs of an asset for its given life expectancy.
Life cycle cost encompasses all costs associated with a building throughout its lifespan, including initial construction, maintenance, operation, and disposal. Analyzing life cycle costs aids in making informed decisions about design, materials, and systems to optimize long-term value and sustainability.
Used in a sentence
Evaluating the life cycle cost helps us understand the long-term value of the building.
Synonyms/variation
LCC
Stay updated on what’s happening in construction.
Subscribe to Blueprint, Procore’s free construction newsletter, to get content from industry experts delivered straight to your inbox.
Learn MoreLearn more about Life cycle cost
Empowering Tribal Nations Through Strategic Capital Program Management
Tribal Nations are leading significant investments in infrastructure that honor their heritage while simultaneously propelling them into a modern, sustainable future. From healthcare facilities that reduce travel for elders to broadband networks that connect youth to global resources, these projects are more than just construction: They’re investments in self-sufficiency and long-term community well-being. Funding opportunities […]
Construction Tax Deductions: A Quick Guide
Tax deductions offer a lot of opportunity for construction businesses to lower their tax liability, helping to free up cash flow and increase profitability. Because construction projects are so complex, tax deductions in the construction industry are nuanced, but there are many opportunities to use tax deductions for more effective financial management. This article discusses […]
How Contractors Can Use Measured Mile Analysis to Prove Claims
A measured mile is a method construction contractors can use to demonstrate lost productivity during a project in hopes of getting some of the additional costs back from project owners. Construction projects always aim to stick to their originally established budget and timelines. Unfortunately, in most cases, issues arise that get in the way of […]
Understanding Supplementary Conditions on Construction Contracts
No two construction projects are exactly alike — and the same goes for construction contracts. Even when using a standard contract form, owners and contractors sometimes use supplementary conditions to shape the contract documents to fit the project at hand better. Supplementary conditions may add additional information that isn’t included in standard contract terms, alter […]
How can we improve this glossary entry?
By clicking this button, you agree to our Privacy Notice and Terms of Service.
