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Life Cycle Costing?

A. is an activity devoted to optimizing cost/performance

B. is the concept of including all costs within the total life of a project.

C. is an activity of appraising the cost and technical performance of a completed project.

D. None of the other alternatives apply

E. is a process of predicting the life of a project.

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Question added by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.
Date Posted: 2017/02/24
يوسف دمدوم
by يوسف دمدوم , مهندس و مسير , مقاولة اشغال البناء

Thank you for the invitation

my answer is option B is the concept of including all costs within the total life of a project

Muhammad Farooq
by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.

I think the appropriate option is B

hisham abu dagga
by hisham abu dagga , Project Manager / مدير مشاريع , مؤسسة عبدالكريم العواض للمقاولات

 

Thank you for the invitation

Option B

B. is the concept of including all costs within the total life of a project.

Elke Woofter
by Elke Woofter , Project Assistant , American Technical Associates

Please see below for the definitions I found on Google, therefore I have to go with Option D)  Life Cycle Costing (LCC) is an important economic analysis used in the selection of alternatives that impact both pending and future costs. It compares initial investment options and identifies the least cost alternatives for a twenty year period.

1.8 Life Cycle Costing - GSA

https://www.gsa.gov/portal/content/101197  

Overview: What is Life Cycle Costing? - simple

simple.werf.org/simple/media/LCCT/index.html   This Life Cycle Costing Tool has been developed to assist asset managers in decision ... The total cost of ownership of an asset is often far greater than the initial ... well as other accounting/financial elements (such as, interest rates, depreciation, .... In certain circumstances the non-asset solution (providing the same level of ...

Krishna   KHASANIS  PMP
by Krishna KHASANIS PMP , Project Manager-Electrical , Larsen & Toubro Ltd, P T & D (International)

I will go with option D . In simple terms , L C C involves looking at costs over the entire life of the product not just the cost of the project to create that product.

DR MD ANWAR HOSSAIN
by DR MD ANWAR HOSSAIN , Moderator , bayt.com

Thank you for invitation. My answer is option.

Abdul Rehman
by Abdul Rehman , Electrical Engineer , Tamdeed Projects

Thanks for the invitation. In my view, B is the correct answer.

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