Life Cycle Costing: Promoting Long-Term Thinking and Equitable Distribution of Resources in Asset Maintenance
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 life cycle costing can 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.
President, Water Finance Research