Whole Life-Cycle Costing

Whole life-cycle costing (WLCC) is rapidly becoming the standardmethod for the long-term cost appraisal of buildings and civilinfrastructure projects. With clients now demanding buildings thatdemonstrate value for money over the long term, WLCC has become anessential tool for those involved in the design, construction,operation and risk analysis of construction projects.Whole-life costing: risk and risk responses offers a thoroughgrounding in both the theory and practical application of WLCC.Part I deals with the fundamentals, providing the generalbackground to appreciate WLCC concepts and whole life riskmanagement techniques at the key decision-making milestones througha project's life. Part II covers the design stage, includingservice life forecasting and environmental life-cycle assessmenttechniques in WLCC. Practical frameworks both for assessing wholelife risks and risk responses, as well as guidance on developingWLCC budget estimates are also developed. In Part III, the authorsconsider WLCC during the construction and operations stages, with astrong emphasis upon risk analysis methods and dynamic WLCCassessment.With its mixture of established theory, best practice andinnovative approaches, this book will help you make more accurateassessments of the long-term cost effectiveness of projectsby:* providing a thorough grounding in the theory of WLCC* demonstrating how decision-making uncertainty can be reduced bybasing choices on sound risk management principles* identifying a systematic approach to planning thepost-occupancy costs.