In construction, 'cost' is frequently defined by duration, the most commonly used being capital cost (zero duration), where only the initial cost at construction is taken into account without consideration of subsequent maintenance or running costs. However, there are two other methods of assessing cost, both of which take into account maintenance or running costs which are occasionally considered when assessing alternative options: Lifecycle - a composite of capital cost of an element of building plus maintenance (and occasionally, running) costs over a fixed cycle, normally 2-10 years, rarely longer.
展开▼