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What are meant by the terms ‘Whole Life Performance’ and ‘Whole Life Costs’?
Assessment of the whole life performance and cost of an asset over its lifetime takes into consideration initial capital costs and future costs, including operational costs, maintenance costs and replacement / disposal costs at the end of its life. It enables investment options to be evaluated more effectively by taking into account the impact of all costs and permits the optimisation of construction spending and timing.
Whole life costing is defined as the systematic consideration of all relevant costs and revenues associated with the acquisition and ownership of an asset.
BRE ‘s Centre for Whole Life Construction and Conservation provides a package of services to the construction industry giving sound, impartial advice aimed at improving the processes of predicting, assessing and planning the costs and future performance of constructed assets.
Acknowledgement: The Concrete Society
Other references:BRE Information Paper 3/02 Whole life performance of domestic automatic window controls
BRE Information Paper 2/02 Whole life performance of domestic automatic door controls
BRE Report 367 Study on whole life costing
BRE Digest 452 : Whole life costing and life-cycle assessment for sustainable building design