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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 calculate and also the ...
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.
Target costing is defined as "a disciplined process for determining and achieving a full-stream cost at which a proposed product with specified functionality, performance, and quality must be produced in order to generate the desired profitability at the product’s anticipated selling price over a specified period of time in the future."
Life-cycle costing recognizes that managers' ability to influence the cost of manufacturing a product is at its greatest when the product is still at the design stage of its product life-cycle (i.e., before the design has been finalized and production commenced), since small changes to the product design may lead to significant savings in the ...
Simply stated, it is a systematic approach to managing cost throughout the life cycle of any enterprise, program, facility, project, product or service. This is accomplished through the application of cost engineering and cost management principles, proven methodologies and the latest technology in support of the management process. ...
A North Carolina father is facing criminal charges after authorities allege he left his child isolated in a room with a space heater for more than 12 hours, leading to his death.
The IRS boosted taxpayer services through Democrats’ Inflation Reduction Act but still faces processing claims from a coronavirus pandemic-era tax credit program and is slow to resolve certain ...
Life cycle assessment (LCA) is sometimes referred to synonymously as life cycle analysis in the scholarly and agency report literatures. [7] [1] [8] Also, due to the general nature of an LCA study of examining the life cycle impacts from raw material extraction (cradle) through disposal (grave), it is sometimes referred to as "cradle-to-grave analysis".