Whole Life Cycle Costing Dissertation Abstracts

EN

Life cycle cost in construction projects is a process of economic decision analysis, which helps taking decisions on investments in new construction. These decisions on investments are analyzed for the payback over the life of the investment. Life-cycle costing makes it possible for the whole life performance of buildings and other structures to be optimized. This paper introduces the concept of life-cycle costing in the Nigerian construction industry. It briefly explains monitoring cost performance over the economic life span, controlling the design development within the capital & running cost budgets and others as its benefits to the industry. Drivers and barriers to its implementation in Nigeria were not left out. Based on extensive literature review this paper shown that the life cycle costing techniques has not been implemented and greatly used in Nigeria. Unstable economic situation, government policy, separation of capital and running cost of most project and others are the barrier facing its implementation. This paper also attempts to provide some recommendations that should facilitate the implementation of LCC in the Nigeria.

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