What does "life cycle cost" refer to in building maintenance?

"Life cycle cost" refers to the total cost of owning a system throughout its entire lifespan. This concept encompasses not only the initial construction costs but also the ongoing costs associated with operation, maintenance, repairs, and eventual disposal or replacement at the end of its useful life.

By considering the complete financial picture, facility managers and decision-makers can better assess the long-term value and cost-effectiveness of building systems and components. This perspective helps in making informed decisions that align with budgetary constraints and strategic planning, as it emphasizes looking beyond just the upfront expenditure to the total economic impact over time.

Other choices center around specific aspects of costs rather than the comprehensive view captured by life cycle costing; for instance, initial construction costs or repair costs focus only on singular phases rather than the holistic approach required for effective building maintenance management.