Life Cycle Costing
Lifecycle costs are the combined total of capital and revenue costs for an item of plant or equipment throughout its useful lifetime that represent a significant cost to an organisation.
The capital costs of building services systems are a combination of the initial capital costs, discounted replacement costs and any residual value (scrap) of items of equipment or other components of the system.
The revenue costs are made up of the energy costs, planned and unplanned maintenance costs and the costs associated with consequential losses resulting from plant failure, such as loss of occupant productivity or production plant downtime.
Establishing lifecycle costs for particular items therefore have a number of uses and benefits:
- Support design decisions regarding the selection of systems and their components
- Aid decisions as to whether to repair or replace specific plant items at a given time
- Select the most appropriate and cost effective maintenance programme
- Appraise the effectiveness of a plant or system at the end of its life with a view to future replication of the desirable features, such as ‘designing out’ maintenance activities, reducing or eradicating unplanned downtime, improving reliability and avoiding excessive maintenance expenditure
The term “Whole lifecycle” is based on the evaluation of a number of additional parameters and the process of evaluation should highlight the best commercial, social and environmental solution for a given function over the life of a building, by helping to reduce wasteful processes and inefficiencies in specific aspects of its design, construction, maintenance, and refurbishment.
Myfacilities are able to supply you with programs to assist with accurate planning and forecasting over the next five to ten years with a detailed report on electrical and mechanical services.
For more on this and many other services the Vastum Group can offer you please call us on 01638 662995 or email us on email@example.com
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Here’s what you can expect from us…
We have an open partnership approach which means that our experts will work closely with you to understand your business and find the best possible solutions.
One point of contact which means you won’t have to deal with multiple people trying to resolve your issue. You’ll get a dedicated account manager just for you.
Our limitless range of facilities management services – from cleaning and catering to security and building services - can be adapted and tailored to suit your needs and of course, your budget.