Life Cycle Costing (LCC).pdf

2020 Figshare  
Life cycle cost in construction projects is a process of economic decision analysis, which helpstaking decisions on investments in new construction. These decisions on investments are analyzed forthe payback over the life of the investment. Life-cycle costing makes it possible for the whole lifeperformance of buildings and other structures to be optimized. This paper introduces the concept oflife-cycle costing in the Nigerian construction industry. It briefly explains monitoring costperformance
more » ... over the economic life span, controlling the design development within the capital &running cost budgets and others as its benefits to the industry. Drivers and barriers to itsimplementation in Nigeria were not left out. Based on extensive literature review this paper shown thatthe life cycle costing techniques has not been implemented and greatly used in Nigeria. Unstableeconomic situation, government policy, separation of capital and running cost of most project andothers are the barrier facing its implementation. This paper also attempts to provide somerecommendations that should facilitate the implementation of LCC in the Nigeria.
doi:10.6084/m9.figshare.12093366 fatcat:5hym63ei7fdr3f5jovwyymr26i