What is LCC?
LCC (Life Cycle Cost) is a method for calculating the total cost of an asset from acquisition through operation to disposal – preventing the mistake of choosing the cheapest purchase price at the expense of high ongoing costs.
Life Cycle Cost
Technical Definition: A method for calculating the total cost of an asset from acquisition through operation to disposal. LCC = Acquisition Cost + Operating Cost (energy, maintenance, personnel) + Downtime Cost + Disposal Cost. The method prevents choosing the cheapest upfront price at the expense of high ongoing costs.
Why it matters: A cheap system with high maintenance costs, frequent failures or vendor lock-in almost always costs more over its lifecycle than a slightly more expensive but open, reliable alternative. LCC makes this visible before the purchase decision.
HubMind’s view: We help you look beyond the lowest tender price and select solutions that minimise your total cost over time. Open standards and documented architectures consistently deliver lower LCC.
Want to know more about LCC?
HubMind helps you understand and apply LCC in your facility.