Whole-life / life-cycle costing
Construction is, now, not about the build process as more emphasis is on sustainability.
Whole-life costing looks at the project w-holistically seeking predictions of expenditure over the life of the building.
At the initial design stage, a whole-life comparison of building refurbishment against demolition and new build would recognise the life-cycle efficiencies of the latter and could be crucial to efforts to establish the correct way forward.
Many designers and clients apply life cycle costing intuitively when making choices about materials and structure of a building. They are planning for cost efficiency over the life of the building rather than short term cost savings.
Information on life cycle cost models and calculating life cycle costs is also included.