Exploring the Acceptance of Life Cycle Cost for Residential Projects in India

Abstract

In the construction project management, demands for sustainable and long-term decision-making methods are increasing as the projects are getting complex. Life cycle costing is the best approach to foresaid conditions for cost management practice. LCC is an economic analyzing method for all costs involved (construction, operation and maintenance) to the construction project over a defined period of time [1]. LCC method assists in finding an economical, effective and purposeful solution for a building project [2]. Best results are obtained by conducting LCC analysis in the earlier time during the feasibility study of the construction project. The questionnaire survey is done to identify all the parameters contributing to life cycle costs. The objective of this study is to explore the level of awareness and acceptance of life cycle cost for residential building in India. The research result reveals critical barriers in acceptance of life cycle cost in India.