Life Cycle Costing: Evaluate Sustainability Outcomes for Building and Construction Sector
Life cycle cost (LCC) has been defined and redefined in different studies undertaken on this topic previously. However, life cycle cost in this entry is considered as a sum ofall costs related to a life cycle of a building from the phase of investment to the phase of deconstruction. For a sustainable building, it is anticipated that the environmental impacts associated with the design, construction, and operation of this building are also lower than a business-as-usual building. Sustainable buildings or green buildings are still not mainstreamed in many parts of the world.
LCC is an effective approach for assessing sustainability outcomes. From the perspective of the SDGs, SDGs of 9.4 and indicator 9.4.1 relevant to the building and construction sector have impacted to this sector in terms of resources, energy, and CO2 emissions. Human well-being can be achieved with economic growth as long as it is decoupled with environmental impacts. Sustainability integrated into this sector is essential and the role ofLCC in this sector is crucial. LCC needs to become mainstream rather than remain in its current place at the fringes of the broader sector. Supporting this process is urgently needed now than ever before. This entry commences with an understanding of the Sustainable Development Goals placing in the context of the building and construction sector. The primary focus is to reduce environmental impacts and improve the economic outputs while supporting social cohesion. Following this is an understanding of LCC and its implementation in this sector. An exploration of how LCC and its variations are used to assess sustainability contributions across environmental, economic, and social considerations is provided before concluding this entry.