Developing a Research Methodology for Life Cycle Costing Framework for Application in Green Projects

Abstract

Life cycle costing (LCC) is a method of accessing the total cost of ownership and has been used around the world for the last few decades. Even though many benefits have been associated with LCC, one of them being an effective tool for decision making, its implementation in construction industry is still limited, particularly in green projects. Among the main factors suggested to have hindered application of LCC are lack of knowledge and understanding on LCC, as well as absence of a standard guideline. This paper presents a research methodology adopted for a research aimed to develop a life cycle costing framework for its' application in green projects. The objectives are to investigate the current practice for LCC application in Green projects, and to determine the relationship between LCC principles with factors influencing effective decision making for LCC best practice in Green project. The methodology of the research involves qualitative and quantitative method, and will be validated by an expert panel interview. The paper provides an overview on the research area, particularly to highlight the issue on the application of LCC and its importance to assist decision makers.