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Vol. 5, September  Issue 9

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Vol. 5,  Special Issue(Bi-yearly)

IMPACT FACTOR 5.909 (2018)

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IMPORTANCE OF LIFE CYCLE COST ANALYSISIN CONSTRUCTION INDUSTRY-REVIEW

Abstract

Abstract:Life cycle costanalysis is a tool used to evaluate the total cost of a system over its entirelife span. Life cycle cost analysis (LCCA) as applied to civil engineering,sometimes also referred to as value engineering or life cycle costing, involvesaccounting for all costs related to construction, operation, maintenance, anddisposal at the end of the useful life of a structure. In short, it provides adetailed account of the total costs of a project over its entire life span. LCCA has been proven to create short-term and long-termsavings in construction projects by helping decision-makers identify the mostbeneficial and cost effective projects and alternatives. This review aims atcreating a basic understanding of this topic for the reader by discussingparameters presented in recent research papers.

Keywords LCCA-Life cycle cost analysis,maintenance costs, cost effective.

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