Development of Life Cycle Cost Strategy and Protocol on Cost Data Input in Malaysia

Abstract

Life Cycle Cost (LCC) is an economic assessment technique that produces outputs, which will give useful cost information to the clients, cost estimators and researchers in facilitating them to make better decision in the process of determining the most optimum total ownership costs of an asset over an anticipated life or in comparing the most cost-effective of mutually exclusive alternatives. The availability, accessibility, currency and reliability of cost data used as inputs in LCC analysis is of paramount importance that should be emphasized in the estimation to produce reliable LCC outputs. The aim of this research is to enhance quality of LCC outputs through the enhancement of quality data input requirements.