Risk assessment methods for life cycle costing in buildings

Purpose. There has been a growing consciousness of the significance of considering the costs of buildings and of developing financial methods to evaluate the life cycle costs (LCC) of buildings in use. Before any decision to invest capital in a building project or existing infrastructure is taken, it is essential that all corporate occupants and stakeholders in the policymaking practice are fully aware of the risks that are inherent as any LCC estimate will always involve a degree of risk exposure.