Whole-Life Cost

(redirected from Life-Cycle Costs)

Whole-Life Cost

The total amount a company spends on an asset over its entire usable life. Examples of whole-life costs include planning, research, purchase price, and maintenance. Companies estimate the whole-life cost prior to purchasing a new asset to determine whether or not it will be cost effective. It is also called the life cycle cost.
References in periodicals archive ?
It allows specifiers to compare either the initial and life-cycle costs of hot-dip galvanizing or a duplex system to various other corrosion protection coatings.
Target costing is an activity which is aimed at reducing the life-cycle costs of new products, by examining all possibilities for cost reduction at the research, development and production stage.
GAO's objectives were to (1) develop an independent estimate of the full life-cycle costs to homeport a nuclear aircraft carrier at Mayport and (2) determine to what extent the Navy's estimate meets the characteristics of a high-quality cost estimate.
Various States and organizations also have established their own procedures for analyzing life-cycle costs.
The inherent strengths of HPC allow for greater design efficiencies, shorter construction cycles, and lower life-cycle costs.
Current resins and adhesives lack adequate strength, stiffness, durability, and reasonable life-cycle costs to revolutionize composites and construction methods, and thus capture large, new industrial markets.
Based on these assessments, one or more cost-effective alternatives will be proposed, including an estimate of the capital and life-cycle costs of the solutions.