Life Cycle Costing of Public Construction Projects
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21110%2F19%3A00348390" target="_blank" >RIV/68407700:21110/19:00348390 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.1088/1755-1315/290/1/012060" target="_blank" >http://dx.doi.org/10.1088/1755-1315/290/1/012060</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1088/1755-1315/290/1/012060" target="_blank" >10.1088/1755-1315/290/1/012060</a>
Alternative languages
Result language
angličtina
Original language name
Life Cycle Costing of Public Construction Projects
Original language description
The purpose of this paper is to highlight the role of life cycle costing in the preparation phase of public construction projects. 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. In the early phase of construction projects, an enormous benefit in life cycle costing can be achieved. The commonly used construction cost minimization approach should be substituted for life cycle cost optimization. In order to gain the maximum value for money, all costs incurred over the whole life span must be estimated. The optimization of the life cycle costs of a construction project is essential for a complex decision making process. All taken into consideration, the solution with the minimum value of life cycle costs can be chosen. Public investors are required to meet the objectives of sustainable building, and as a group they face limited financial resources and frequently a very strict institutional framework including procurement procedures. The quantification of life cycle costs, when deciding on a construction project, is required by the public sector in the Czech Republic. In addition, the estimated amount of life cycle costs has become a criterion in public tenders. The paper summarizes experience in building design valuation in terms of these life cycle costs.
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
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Central Europe towards Sustainable Building (CESB19)
ISBN
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ISSN
1755-1307
e-ISSN
1755-1315
Number of pages
7
Pages from-to
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Publisher name
IOP Publishing Ltd
Place of publication
Bristol
Event location
Praha
Event date
Jul 2, 2019
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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