Economic Factors and Whole Life Cycle Costing in Building Design

This report delves into the critical role of Whole Life Cycle Costing (WLCC) in building design and maintenance, emphasizing the significance of economic factors. It begins by defining WLCC and its evolution from initial construction cost considerations to a comprehensive approach encompassing the entire lifespan of a building. The report highlights the advantages of WLCC, such as aiding investment decisions and managing construction projects efficiently, while also acknowledging its limitations, including data unavailability and potential political constraints. It explores risk analysis techniques like sensitivity analysis, probability-based methods, and fuzzy approaches. Furthermore, the report examines the impact of design decisions on WLCC, illustrating how choices regarding materials, energy efficiency, and building flexibility influence long-term costs. Through worked examples, the report assesses the economic factors arising from building maintenance and provides a comparative analysis of cladding options. The conclusion underscores the importance of integrating WLCC into feasibility studies to achieve the most effective and economical solutions in building projects, emphasizing the need for sustainability and continuous monitoring. The report draws upon various references to support its analysis and findings.