Whole life costing is now integral to building procurement, both for new buildings and major refurbishments. It is key when assessing investment scenarios for estates as well as individual buildings, and has become a tool for justifying higher capital cost items.
Standard whole life costing methods combine capital cost, facilities costs, operational costs, income and disposal costs with a 'single action-single benefit' approach. Costing based on this type of single attribute assessment misses out on realising value from the intricacies of the interactions buildings have with their occupants, users and the location in which they are placed. In contrast, the multi-attribute approach presented by the author of this book explains how to analyse the whole cost of a building, while also taking into account secondary and tertiary values of a variety of actions that are deemed important for the project owners and decision-making stakeholders. The process is an effective tool for presenting a good business case within the opportunities and constrains of real life.
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