Whole Life Costing vs. Life Cycle Cost 📊

In this video, I answer the question, what is Whole-life costing? And I’ll consider how it compares to Life Cycle Cost.

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⏱ Chapter Markers...
00:00 - What is Whole-life Costing? And how does it differ from Lif Cycle Cost?
00:16 - The context for whole-life costing
01:00 - Investment decision and business case
01:38 - Definition of Whole-life Cost
01:58 - What Whole-life Costs include
02:46 - The challenge of calculating whole-life costs
03:35 - Whole-life costs: Iceberg Model (Baily & Farmer)
04:20 - The application of whole-life costing
05:35 - Comparison between Whole-life Cost and Life cycle Cost
06:25 - Summin-up Life-cycle Costs


#WholeLifeCosting #ProjectManagement #BusinessCase