Assess whole life costs

To maintain value in a project you should always consider the costs of the asset over its whole life and not just the initial capital cost.

You should consider:

Consider operational as well as delivery costs

Low initial delivery costs can very often lead to significantly increased costs over the life of the project. For instance a low cost roof covering or thinner road surfacing may ensure that a project is maintained within its initial cost profile/budget but if it has to be replaced four times during the life of the asset then it is likely to cost the client significantly more in terms of operational costs.

back to top

Develop a whole life cost management framework

Establish project costs on the basis of the asset life as well as the project life to develop the asset. This will ensure that the project cost model and any changes to the project are well informed.

back to top

Manage changes without compromising whole life value

Using a whole life cost management framework or model will ensure that any changes to the project are well informed and allow impacts of any project changes to be considered over the life of the project.

back to top