When we make decisions, such decisions will often have long term implications. This is particularly the case with capital projects, but not exclusively so. Unfortunately all too often the longer term costs and benefits of decisions are not fully taken into account, especially where short term political expediencies take precedence. There is clearly a need to highlight the benefits of taking a longer term view by incorporating whole life considerations into our decision making processes.
This event will outline what we mean by the term whole life costing (sometimes called ‘life cycle costing’) and will cover the following:
An explanation of the basic principles
A range of key tools and techniques that can be deployed, both tactically and strategically
Striking the balance between financial and non-financial costs and benefits
Some of the common mistakes and pitfalls
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