• Life cycle costing - theory and practice
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Life cycle costing - theory and practice

Free copy of Whole Life Costing Analysis guide for very delegate.

"Really good training - thank you", Neil Fogg, Kingston University 

Life Cycle Costing enables project sponsors and delivery teams to evaluate the combined capital and operating costs of construction work. This is important to make sure that the client is getting long-term value for money from the project.

This two-day training course has been specifically designed to bring together the theory behind Life Cycle Costing and the practical calculation of whole life costs. Delegates work through example calculations to apply the underlying theory and to become familiar with the concepts, pitfalls and watch-points.

Life Cycle Costing will enable the delegate to deal with issues such as:

• Assessing when to replace an existing boiler plant with a new, more energy efficient plant
• Deciding whether to install high-cost-low-maintenance fittings or low-cost-high-maintenance fittings
• Comparing technical options that have different life expectancies
• Assessing the impact of changes in energy costs
• Prioritising projects when budgets are tight

Day 1
09.00 Coffee & registration
09.30 Introductions & overview
09.50 Session 1 - The concept of Life Cycle Costing analysis
           Session 2 - The building blocks of Life Cycle Costing
11.15 Coffee
11.30 Session 3 - Identifying data for  Life Cycle Cost calculation
12.45 Lunch
13.30 Session 4 - Calculation  Life Cycle Costs
14.45 Tea
15.00 Session 5 - Dealing with more complex cost profiles
16.15 Summary of Day 1.

Day 2
09.00 Review of Day
09.30 Session 6 - Testing the sensitivity of the Life Cycle Cost Model
11.00 Coffee
11.15 Session 7 - Analysis of several projects
12.30 Lunch
13.30 Session 8 - Watch points for Life Cycle Costing Analysis
14.15 Session 9 - Where to go next
15.00 Tea
15.15 Concluding discussion and Q&A.
16.00 Close

Delegates attending this course will gain a greater understanding of:

• Key components of Life Cycle Costing Analysis
• What information is required to build the mathematical Life Cycle Cost Model
• How to estimate actual service life for components in their projects
• Familiarity with the way whole life costs are calculated and what the results mean
• How to use Sensitivity Analysis to test the robustness of the Model
• How to use Savings-to-Investment ratio to select the most economically effective projects

Delegates are provided with a copy of all the slides presented, BSRIA publication BG 5/2008 Whole-Life Costing Analysis and a BSRIA CPD Cerfificate. Copies of this publication are available for purchase from the BSRIA Bookshop.

David Churcher is trained Civil Engineer and has spent most of his career helping the building industry implement best practice. He provides consultancy on Life Cycle Costing to BSRIA clients and is involved in major European research projects on LCC.  Read David's full profile.