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Chapter 3 Learn with flashcards, games, and more — for free.
Study with Quizlet and memorize flashcards containing terms like Life cycle cost, Cost analysis of LCC, Methodology (4 measures) and more.
Life cycle costing: Process of economic analysis to assess the life cycle cost of a product over its life cycle or a portion thereof
21 sie 2024 · Guide to life cycle costing and its definition. We discuss its calculation along with formula, example, applications & benefits.
Life cycle costing is the economic analysis process that assesses the total cost of acquisition, ownership, and disposal of a product over a period of time. It includes a comparison between alternatives projects (including their externalities).
Life cycle costing is most commonly used by businesses as a method of manufacturing cost control. It also helps in the analysis of the long-term profitability of an investment or acquiring an important asset. The discounted values are used for the analysis and finding the ROI.
2 wrz 2017 · Understand the fundamental principles of Life Cycle Costing. Know how to use Life Cycle Costing as a tool to make good decisions from different perspectives—as a product/service developer or someone who buys a product/service. Know historical and current application areas.
