Term of the Road Dictionary

whole-of-life cost

  • Language : PIARC Road Dictionary / English
  • Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
  • Definition : All significant and relevant initial and future costs of an asset throughout its life cycle (acquisition, operation, maintenance, and disposal), while fulfilling the performance requirements. Note: costs are calculated according to a common reference called "net present cost".
  • Abbreviation : WLC
  • Synonyms : life cycle cost / lifetime cost

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