1Introduction

1.1Background and problem statement

The term life cycle costing for the determination of the total costs incurred during the service life of a system was initially introduced in 1965 by the US Logistics Management Institute in order to assess military systems economically as for example described by Dhillon (2009). The first guideline for the assessment of construction projects was published by the US Department of Commerce in 1978 (Ruegg et al.). Within the context of the first global energy crisis, the guideline describes the determination and evaluation of life cycle costs for alternatives of energy saving measures for public building projects. In general, the life cycle costing approach in the field of construction includes ...

Get Operating Costs of Real Estate now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.