Life Cycle Costing: Promoting Long-Term Thinking and Equitable Distribution of Resources in Asset Maintenance

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The acquisition cost of an asset is just a portion of the total cost of owning it. Ongoing maintenance significantly adds to that cost. Moreover, failure to keep up with asset maintenance can result in premature deterioration, an increased risk of failure, and higher total costs. Life cycle cost analysis helps guard against these risks by considering the entire cost of owning the asset over its entire life. In this session, you will see how lifecycle costing cab help governments make smarter, more cost-effective, and geographically equitable spending decisions, and how you can get started in implementing this approach in your organization.

Speakers

Jason Greene

Jason Greene

Assistant Town Manager / CFO, Town of Surfside, FL

Gregory Baird

Gregory Baird

President, Water Finance Research