WLC (Whole Life Costing)

Whole Life Costing (WLC) is a financial method used to evaluate the total cost of owning and operating an asset over its entire lifespan. This includes not just the initial purchase price, but also maintenance, energy consumption, repairs, and eventual disposal costs. By considering all these expenses, organizations can make more informed decisions about investments, ensuring they select options that are cost-effective over time, rather than focusing only on upfront costs. This approach is particularly important in sectors like construction, where long-term sustainability and operating costs are critical.