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.
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This time the strategy focuses on the fundamental issues that are holding back the industry from being more productive, such as; leadership, procurement practices, client capability, BIM, collaborative working, skills and whole-life costs.
Work to develop the high speed trainset of the future will aim to reduce whole-life costs and boost performance, looking to decrease by 35% the power consumption of a trainset with up to 750 seats.
And what is the quality of the learning environment - because we cannot lose sight of what the specifi-cation has to support: educational outcomes The fifth factor, sustainability, cuts across all of the guiding principles - especially the concept of whole-life costs.
The increase in residual value has had a positive contribution on the XTrail's whole-life costs with the new version now 10% less to run compared with the outgoing model, at just 99 pence per mile.
This increase in residual values has made a positive contribution to the X-Trail's whole-life costs, with the new version 10% less to run on a pence-per-mile basis when compared with the outgoing model.
I believe that the move to mandate the use of BIM is to be welcomed and will help the industry make the necessary step changes to meet the UK's carbon reduction targets, as well as help to reduce both the capital and whole-life costs of delivering public sector construction through collaborative working.
Generally, electrification can pay for itselfwhenthe whole-life costs of both trains and track are taken into account.
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.