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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

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

  • OECD FORD branch

    20101 - Civil engineering

Result continuities

  • Project

  • 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

  • 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