engleski

Life cycle cost prediction models for university facilities in Osijek

Life cycle cost is the total cost of a building or its components throughout its life, including the costs of planning, design, acquisition, operations, maintenance and disposal, less any residual value. According to ISO 15686, part V, life cycle costing is a technique which enables comparative cost assessments to be made over a specified period of time, taking into account all relevant economic factors both in terms of initial capital costs and future operational costs. In particular, it is an economic assessment considering all projected relevant cost flows over a period of analysis expressed in monetary value. The data requirements, according to the reviewed literature, for carrying out LCC analysis are physical data, performance data, quality data, cost data and occupancy data. These different data influence the LCC in different stages of the life cycle. Most of the current cost estimating techniques suffer from drawbacks of low accuracy, and restriction to particular life cycle phases. There could be many reasons for not having a standard Life Cycle Cost model, including the inclinations of users, the nature of the problem, the existence of many different cost data collection systems, and many different types of equipment, devices, or systems. Public sector users (e.g. Universities) should be most interested in decreasing life cycle costs since they are depending on national (public) budget whereas it is advisable to give special consideration to some particular parameters of those facilities such as low or zero real discount rates (reflecting the particular nature of public works projects as social rather than investment capital), low or zero income and long periods of analysis.

Life cycle cost ; cost estimating ; period of analysis

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