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Life-cycle cost analysis. Life-cycle cost analysis (LCCA) is an economic analysis tool to determine the most cost-effective option to purchase, run, sustain or dispose of an object or process. The method is popular in helping managers determine economic sustainability by figuring out the life cycle of a product or process.
Life cycle thinking. Life cycle thinking is an approach that emphasizes the assessment and minimization of environmental impacts at all stages of a product's life. This concept seeks to avoid shifting environmental burdens from one stage of the product's life to another. It also recognizes the importance of technological innovation in tackling ...
Whole-life cost. Whole-life cost is the total cost of ownership over the life of an asset. [1] [clarification needed] The concept is also known as life-cycle cost (LCC) or lifetime cost, [2] and is commonly referred to as "cradle to grave" or "womb to tomb" costs. Costs considered include the financial cost which is relatively simple to ...
Target costing is an approach to determine a product's life-cycle cost which should be sufficient to develop specified functionality and quality, while ensuring its desired profit. It involves setting a target cost by subtracting a desired profit margin from a competitive market price. [1] A target cost is the maximum amount of cost that can be ...
ISO 15686 is the in development ISO standard dealing with service life planning. It is a decision process which addresses the development of the service life of a building component, building or other constructed work like a bridge or tunnel. Its approach is to ensure a proposed design life has a structured response in establishing its service ...
Project Cost Management ( PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. [1] [2] It encompasses several specific project management activities including estimating, job controls, field data collection, scheduling, accounting and design, and uses technology to measure cost ...
Life cycle assessment ( LCA ), also known as life cycle analysis, is a methodology for assessing environmental impacts associated with all the stages of the life cycle of a commercial product, process, or service. For instance, in the case of a manufactured product, environmental impacts are assessed from raw material extraction and processing ...
Although some people have the knowledge, resources and savvy needed to successfully play the stock market for themselves, many other people don't. For the people who lack the time or talent to ...