Often, roofing systems are evaluated and selected solely on their initial cost, without considering the long-term costs of ownership. To truly understand the cost of a new roof it is essential that you consider the costs that will be incurred over the life of your roof. Life Cycle Costing (LCC) allows for a more holistic approach to be taken, which will not only save you money but also improve the sustainability of your building and help to meet Government environmental targets.
We’ll discuss what Life Cycle Costing is, how it works, and how Garland UK can help you achieve the many benefits that it provides.
What is Life Cycle Costing?
Life Cycle Costing (LCC) is fundamentally just a numerical tool that allows for the complete cost of a given element or component to be analysed over its life cycle, allowing for easy and accurate comparison against alternative options for both new build and refurbishment projects.
LCC achieves this by providing a standardised methodology (defined in BS/ISO 15686-5:2017) that takes account of all relevant costs over a defined amount of time (construction, renewal, operation, maintenance, end of life) by using Net Present Value (NPV) analysis, to account for all expected expenditures and savings, net of taxes, throughout the analysis period.