Project Lifecycle Costing

Project Lifecycle Costing (LCC) is a method used to estimate the total cost of a project throughout its entire duration, from initial planning to completion and beyond. It includes all expenses such as design, construction, operation, maintenance, and eventual disposal or replacement. By understanding these costs early, organizations can make better decisions, optimize resources, and ensure the project is financially sustainable over time. Essentially, LCC provides a comprehensive financial picture, helping stakeholders anticipate and manage costs from start to finish rather than just focusing on initial investments.