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Whole-life cost is the total cost of ownership over the life of an asset.[1][clarification needed] The concept is also known as life-cycle cost (LCC) or lifetime cost,[2] and is commonly referred to as "cradle to grave" or "womb to tomb" costs. Costs considered include the financial cost which is relatively simple to calculate and also the environmental and social costs which are more difficult to quantify and assign numerical values. Typical areas of expenditure which are included in calculating the whole-life cost include planning, design, construction and acquisition, operations, maintenance, renewal and rehabilitation, depreciation and cost of finance and replacement or disposal.
- ^ Association of Local Government Engineers New Zealand: "Infrastructure Asset Management Manual", June 1998 – Edition 1.1
- ^ National Housing Federation, London region, Lifetime costs of installing renewable energy technologies: A guide for housing associations, published June 2010, accessed 8 May 2019