Life cycle costing - total asset management


Total Asset Management - Life Cycle Costing Guideline, September 2004

Life Cycle Costing is a process to determine the sum of all the costs associated with an asset or part thereof, including acquisition, installation, operation, maintenance, refurbishment and disposal costs.  It is pivotal to the asset management process as an input to the evaluation of alternatives via Economic Appraisal, Financial Appraisal, Value Management, Risk Management and Demand Management.

There is an Australian Standard on Life Cycle Costing (AS4536) that includes examples of the application of Life Cycle Costing in its appendices.

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