Re‐engineering the whole life cycle costing process

Most commonly, residents are always arguing about the satisfaction of sustainability and quality of their high rise residential property. This paper aim is to maintain the best quality satisfaction of the floor materials by introducing the whole life cycle costing approach to the property manager of the public housing in Johor. This paper looks into the current situation of floor material of two public housings in Johor, Malaysia and testing the whole life cycle costing approach towards them. The cost figures may be implemented to justify higher investments, for examples, in the quality or flexibility of building solutions through a long-term cost reduction. The calculation and the literature review are conducted. The questionnaire surveys of two public housings were conducted to make clear the occupants evaluation about the actual quality conditions of the floor material in their house. As a result, the quality of floor material based on the whole life cycle costing approach is one of the best among their previous decision making tool that was applied. Practitioners can benefit from this paper as it provides information on calculating the whole life costing and making the decisions for floor material selection for their properties.

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Product Life Cycle Costing

Applied Mechanics and Materials ◽

10.4028/www.scientific.net/amm.816.547 ◽

2015 ◽

Vol 816 ◽

pp. 547-554 ◽

Cited By ~ 1

Author(s):

Jaroslava Kádárová ◽

Ján Kobulnický ◽

Katarína Teplicka

Keyword(s):

Life Cycle ◽

Product Life Cycle ◽

New Technologies ◽

Cost Management ◽

Life Cycle Costing ◽

Management Tool ◽

Start Up ◽

Production Calculation ◽

Whole Life Cycle ◽

The Relationship

Successful performance of a company and its ability to handle growing competition is dependent on its capacity of implementing new technologies and making use of new methods of management. This report aims at cost management tool that enables controlling of costs through the whole life-cycle. Life Cycle Costing allows us to look at the start-up costs and the costs associated with the cessation of production, after-sales services costs and other expenses not taken into account in planned or operational calculation, see them as one unit and thereby evaluate the effectiveness of the product. Before establishing a production, calculation of the life-cycle costs is based on various factors which can be found in this article as well as the division of costs within the scope of calculation. It contains an example of calculation and accurate illustrations of process-based models of life-cycle costing from different points of view brought by various authors dealing with this topic, the usage of costing and the relationship with other calculations that are component parts of a company’s strategic cost management.

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Leveraging Whole Life Cycle Costs When Utilising Building Information Modelling Technologies

International Journal of 3-D Information Modeling ◽

10.4018/ij3dim.2012100105 ◽

2012 ◽

Vol 1 (4) ◽

pp. 40-49 ◽

Cited By ~ 3

Author(s):

Dermot Kehily ◽

Barry McAuley ◽

Alan Hore

Keyword(s):

Life Cycle ◽

Life Cycle Costing ◽

Life Cycle Costs ◽

External Application ◽

Building Information Modelling ◽

Sustainable Building ◽

Information Modelling ◽

Building Information ◽

Technology Tool ◽

Whole Life Cycle

Building Information Modelling (BIM) is now being increasingly used as a technology tool to assist design professions in conceiving, designing, constructing, and operating the built environment in many countries. The BIM model provides design professions with the framework to perform exercises in design, programming, cost and value management, and concept energy analysis, in order to achieve the most economical and sustainable building solution. The BIM model though sophisticated is not extensively used to provide estimation software with the data requirements for Life Cycle Costing (LCC), such as, escalation of future expenditure and/or present value costs, discount rates, and study periods. Without incorporating LCC functionality within the BIM model or in an external application with a BIM interface a complete picture of the Whole Life Cycle Costs (WLCC) cannot be generated from the outputs of the model. The authors demonstrate the potential ability to customise traditional estimating packages with BIM take-off and database management interfaces, in order to find the best solution to provide complete Whole Life Cycle Costs Analysis (WLCCA). A template was produced in consultation with one of the internationally established methodologies in Life Cycle Costing (LCC) and provides the user with the financial tools to select the most economical advantageous solution, possibly without investing in new estimating software.

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