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 ?
The three-day workshop will receive participation from procurement leaders from George Washington University and life-cycle cost analysis experts.
The American Galvanizers Association relaunched the Life-Cycle Cost Calculator (LCCC) at lccc.
To do this, GAO worked with a firm experienced in preparing life-cycle cost estimates for major federal acquisitions and compared the Navy's cost estimating practices with the best practices in GAO's "Cost Estimating and Assessment Guide.
The life-cycle cost calculation it is possible to complete before initiation of production process, along life cycle or at the end of product life cycle.
Many agencies are investigating economic tools such as life-cycle cost analysis (LCCA) that will help them choose the most cost-effective alternatives and communicate the value of those choices to the public.
If electricity is required, the full life-cycle cost of providing it in all locations must be factored into the economic feasibility estimate.
As part of the Harper Government s Seven-Point Plan, Public Works and Government Services Canada, on behalf of the National Fighter Procurement Secretariat, today issued a Request for Proposal to obtain the services of a firm to conduct an independent review of National Defence s life-cycle cost estimates for the F-35 to be included in the upcoming 2013 Annual Update to Parliament on the Next Generation Fighter Capability.
3 billion life-cycle cost estimate lacks timely and complete supporting data, because it does not contain the most current information from testing and evaluation nor does it provide sufficient information on how changing assumptions could affect costs.
The life-cycle cost of High Intensity PL products is now substantially lower than first generation products because of longer service life, and the use of less, but higher intensity material.
The contract is evidence of the customer's confidence in Nova Bus, and the efforts it has made to improve the reliability of its products and lower their life-cycle cost.
Implementation is expected by fiscal year 2006 with an estimated life-cycle cost of nearly $1 billion.