Life cycle costing as an important contribution to feasibility study in construction projects
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21110%2F17%3A00315945" target="_blank" >RIV/68407700:21110/17:00315945 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.1016/j.proeng.2017.08.031" target="_blank" >http://dx.doi.org/10.1016/j.proeng.2017.08.031</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.proeng.2017.08.031" target="_blank" >10.1016/j.proeng.2017.08.031</a>
Alternative languages
Result language
angličtina
Original language name
Life cycle costing as an important contribution to feasibility study in construction projects
Original language description
The purpose of this paper is to highlight the role of life cycle cost (LCC) analysis in the feasibility study of construction projects, especially in the public sector. Feasibility study is usually conducted in the early phase of construction projects when the greatest benefit of LCC can be obtained. The commonly used construction cost minimization approach should be replaced with LCC optimization. In order to achieve the maximum value for money, all costs incurred over the whole life span must be evaluated. Life cycle costing is a method of economic analysis directed at all costs related to constructing, operating, and maintaining a construction project over a defined period of time. The optimization of the LCC of a project, construction or equipment, is essential for the complex decision-making process. It is then at this point that the solution with the minimum value of LCC can be chosen. The public sector in the Czech Republic is now beginning to require quantification of LCC when deciding on construction. In addition, LCC has become a criterion in public tenders. This paper summarizes the experience of assessing building designs in terms of LCC. Not only public sector benefits are identified and summarized but also some significant difficulties. Case studies are provided.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
20101 - Civil engineering
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Procedia Engineering
ISBN
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ISSN
1877-7058
e-ISSN
1877-7058
Number of pages
6
Pages from-to
565-570
Publisher name
Elsevier B.V.
Place of publication
Amsterdam
Event location
Primosten
Event date
Jun 19, 2017
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000418465300075