life cycle cost

  

Definition

Sum of all recurring and one-time (non-recurring) costs over the full life span or a specified period of a good, service, structure, or system. In includes purchase price, installation cost, operating costs, maintenance and upgrade costs, and remaining (residual or salvage) value at the end of ownership or its useful life.

Use life cycle cost in a sentence

  • When I bought a used car, I was totally unaware of how high the total life cycle cost would be; it might have been cheaper to just buy a new car.

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  • I wondered what the life cycle cost would be and then I was told by my manager who knew everything about it.

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  • The product was a very popular one, but overall the company lost money on it because of the exorbitant life cycle cost associated with its production and warranty requirements.

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