Understanding total cost and sustainability
Life Cycle Costing (LCC) gives you insight into the economics of the full or partial life cycle of products and services.
The total costs over the life cycle are often not visible in the selling price. Consider maintenance costs, operating costs and external costs, such as environmental costs associated with production and disposal. With LCC, you get a complete and realistic picture of these costs.
Integral and practical
Normec offers LCC analyses that help you with internal decision-making and strategic choices. As a financial pillar within sustainability analyses, LCC is a valuable addition to:
Together, these methods give you a complete insight into the sustainability of a product, service or activity.
Structured method according to international guidelines
LCC is performed according to the same basic framework as LCA (ISO 14040/14044). Although there is no specific international standard for LCC, we apply a structured and proven methodology.
We analyze different phases within the life cycle, such as:
- Research and development
- Production
- Implementation and deployment
- Use and management
- End of life and disposal
You can choose a system-wide analysis or a specific perspective, for example from a producer perspective. In addition, LCC is also suitable for future-oriented analyses, for example when developing new products.
This is what it gives you in concrete terms:
- You gain insight into all costs over the entire life cycle.
- You recognize hidden costs such as maintenance and external effects
- You make better-founded investment decisions
- You compare scenarios based on total costs instead of only purchase
- You strengthen your sustainability strategy with financial substantiation
Financially and sustainably sound choices
Normec's Life Cycle Costing gives you insight that goes beyond the purchase price. You make choices based on total cost and impact. Together we ensure better informed decisions and sustainable growth.
Want to know more about Life Cycle Costing (LCC)?
Frequently Asked Questions
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LCC is a method of identifying all the costs of a product or service over its entire life cycle, from development to disposal.
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LCC focuses on costs, while LCA looks at environmental impacts. Together, they give a complete picture of sustainability.
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Because it provides insight into hidden and future costs, allowing you to make better and more sustainable decisions.
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For organizations that develop, manage or procure products and want to understand total cost and sustainability.
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Yes, LCC is often used to make better choices and optimize costs at an early stage.
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No, LCC is applicable to both small and large projects and can always be customized.