Life cycle cost analysis (LCCA) can give building owners insight into the efficiency of their buildings. While the upfront cost of owning a building is quite obvious, operational costs can quickly exceed expectations. To allow owners and managers to develop the most efficient and cost-effective operational planning, life cycle cost analysis is critical. At LKPB Engineers, we know how important it is that your business operates at maximum efficiency, which is why we perform extensive LCCA. How can life cycle cost analysis ensure operational efficiency? Read on to find out.
What is LCCA?
Life cycle costing analysis, or LCCA, is a thorough evaluation of the lifetime operating costs of a building. It includes a complete analysis of the following:
● Acquisition costs
● Construction costs
● Renovation expenses
● Operational expenses
● Maintenance costs
● Repair costs
● Taxes and finance charges
By analyzing each component of a building’s operation, we are able to help owners and managers develop an efficient plan for its future operation. There are many hidden costs associated with owning and operating a building, which is why LCCA is necessary for a cost-effective operation. When we identify the most costly components, we are able to develop and implement a plan for improving system design. This cuts down on operational costs and can save a substantial amount of money over the lifespan of the building.
What Can LCCA Improve?
LCCA can reveal the most expensive and inefficient costs of owning and operating a building. Beyond the initial cost of the acquiring a building, lifetime operational costs must be considered as well. Energy and water costs tend to comprise a large portion of a building’s operational expense. With LCCA, building owners can reduce their environmental impacts and may even qualify for Green Building credits.
When LCCA is implemented as early in the building process as possible, it improves all stages of a building’s planning. It accounts for timing of future repairs and maintenance, and factors in such expenses. It also encompasses system components that will require future replacement, along with their associated costs. In doing so, it allows owners, managers, and users to anticipate future costs and avoid unexpected and costly surprises. At LKPB Engineers, our LEED engineers help you plan for future incidences, giving you peace of mind that your building operates in the most cost-effective manner.
Life Cycle Costing Analysis in the Twin Cities
At LKPB Engineers, we know how important it is that you plan for your building’s future. That’s why we’re here to help you develop the most cost-effective planning. Our team of expert engineers performs comprehensive life cycle costing analysis to ensure your building is operating at maximum efficiency. If you’d like to learn more about our LCCA services or would like to schedule an evaluation, contact our team of experts today. To schedule your consultation, call us at 612-540-5000, or you can message us on our contact page.