Life Cycle Costing and Analysis
Analyse, estimate and manage costs for cost efficiency and value maximisation throughout building life cycle
Type
Functional
Competency Area
Business and Project Finance
Levels
Collate information for cost estimates for project life cycle
Collect relevant data for making fair cost estimates for project life cycle
Identify relevant factors affecting overall costs
Maintain records of estimated and actual costs
Collate data from relevant past projects
Estimate costs for the project life cycle
Analyse data to estimate the relevant resource requirements for the construction projects
Analyse factors affecting costs
Calculate LCC component estimates
Conduct economic evaluation by consolidating the LCC component estimates
Produce accurate estimates through collaboration with relevant stakeholders
Formulate databases for future reference
Review cost estimates for project life cycle
Evaluate costs of projects by simulating the construction processes
Recommend strategies for cost management
Adjust estimates in life cycle cost calculation analyses
Perform sensitivity analyses
Perform break-even analyses
Conduct variance analyses
Verify compliance to the relevant sustainability regulations
Endorse cost estimates for project life cycle
Influence adoption of LCC framework
Emphasise adherence to relevant sustainability regulations
Guide teams to identify areas for improved cost management
Advise on ways of adhering to sustainability orientation throughout building life cycle
Prioritise the importance of environmental costings as part of environmental impact considerations
Evaluate the impact of economic trends on the LCC calculations