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Life Cycle Cost In The Built Environment In The Context Of Sustainable Development

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  • CARAIMAN ADRIAN-COSMIN

    (POLITEHNICA UNIVERSITY OF TIMISOARA, TIMISOARA)

Abstract

Life cycle cost is a widely recognised method as an important instrument for assessing the economic performance of energy and water conservation as well as renewable energy projects undertaken in both the public, country and private sectors. The method applies to any project, public or private, where future savings on operational costs are weighed against higher initial costs of capital investment. In other news, the life cycle cost in construction strengthens the resilience of a building, optimizes costs, and, last but not least, allows the choice of the right method for calculating life cycle costs. Life cycle cost analysis (LCCA or LCC briefly) is an objective method of measuring and managing costs over the period of any project or asset. In construction, it allows to compare design options from the perspective of service life to reduce overall costs. The LCC provides a method for assessing the costs that occur over the resistance period of a building, from construction, use and maintenance, to the end of its service period. Thus, it provides a stronger view of long-term costs and savings compared to other methods.

Suggested Citation

  • Caraiman Adrian-Cosmin, 2022. "Life Cycle Cost In The Built Environment In The Context Of Sustainable Development," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 298-318, August.
    • Handle: RePEc:cbu:jrnlec:y:2022:v:4:p:298-318
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    References listed on IDEAS

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    3. Kovacic, Iva & Zoller, Veronika, 2015. "Building life cycle optimization tools for early design phases," Energy, Elsevier, vol. 92(P3), pages 409-419.
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