Life Cycle Costing and Analysis

Analyse, estimate and manage costs for cost efficiency and value maximisation throughout building life cycle



Competency Area

Business and Project Finance


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