Definitions for "Life Cycle Cost"
("LCC") The total cost of a system or facility over its full life, including the cost of development, acquisition, operation, support and disposal. [D02956] RMW The sum of all cost s over the useful life of a building, system or product. It includes the cost of design, construction, acquisition, operation, maintenance, and salvage (or resale) value, if any. [D03526] GAT The total cost of implementation and owner ship of a system over its useful life. It includes the cost of development, acquisition, operation, maintenance, support, and where applicable, disposal. [D04130] CSM
The present value of a system or subsystem, including purchase, spares, administration, maintenance and consumable cost over the life of the system.
The analysis of cost issues over the entire life cycle of a given product, rather than a specific fiscal period. It includes factors based on product life cycle stage (introduction, growth, maturity, decline) and all research and development, design, marketing, production and logistics costs. A cross-functional approach used in investment and facility decisions.
Amount of money necessary to own, operate, and maintain a building over its useful life.