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Life Cycle Cost Analysis

Life Cycle Cost (LCC) Analysis is a method of analyzing the cost of a system or a product over its entire lifespan. LCC enables you to define the elements included in the lifespan of a system or product, and assign equations to each element. These equations represent the calculation of the cost of that particular element.
The objective of performing a LCC analysis should be to choose the most cost-effective approach for using available resources over the entire lifespan of the product or system. The LCC provides a systematic process for evaluating and quantifying the cost impacts of alternate courses of action.

More information: http://www.life-cycle-cost.com/

Life Cycle Costing
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