Whole-Life Cost

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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 ?
With its lower benefit-in-kind tax band, superior MPG, reduced whole-life costs of three years and lowest C02 emissions, the new Avensis is proven to be more attractive in many ways over competing vehicles such as VW, Ford and Vauxhall.
As a customer, we demand unprecedented reliability and competitive whole-life costs, which Carrier Transicold delivers," added Horgan.
British Standard ISO15686-5 defines whole-life costing as a "methodology for the systematic economic consideration of all whole-life costs and benefits over a period of analysis, as defined in the agreed scope".
This study to document the performance and whole-life costs of the practices, was undertaken in light of the lack of data on operational performance, a need to understand their future financial liabilities better, and a need to improved confidence in the techniques in order to gain appropriate regulation and adoption.
LOWEST whole-life costs backed by the highest levels of after-sales service are said to have led to haulier Eddie Stobart choosing Scania as its preferred truck for 2007.
These factors are typified by minimal operational disruption, adherence to workplace safety criteria and, compatibility between whole-life costs and earlier predictions.
Every VW commercial vehicle offers low whole-life costs and galvanised bodies.
Strong residual values keep down whole-life costs whether you're buying or leasing; cars with good residuals are normally desirable, reliable and have a strong brand image.
But the other six key recommendations could have come from some kind of drear functionalist handbook written any time in the last half-century: design should for instance minimize waste, provide efficient and adaptable spaces, reduce whole-life costs and contribute to quick, safe and efficient construction.
EVs help in reducing the whole-life costs associated with operating fleets of vehicles.
As part of the DTP feasibility stage, LUL is considering possible designs for new rolling stock with a view toward reduced journey times, improved ambience, improved safety and reduced whole-life costs.
It also affects the retained value of the cars, which is the single greatest factor in determining whole-life costs.