1.2 Design economics over a buildings life Flashcards
What is life cycle costing?
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When would you use life cycle costing?
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What do we mean by an optional appraisal in the context of life cycle costing? Can you give an example?
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What are the advantages of preparing a life cycle cost?
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What do you know about the BS/ISO 15686-5 (Life cycle costing) document?
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What is a whole-life cost?
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What is the difference between a whole life cost and a life cycle cost?
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What elements are included in a whole life cost? Can you give some specific examples?
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Describe the different levels at which Life Cycle Costing may be carried out (e.g. component level through to multiple assets level)
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How long would you assess a life cycle cost for? What factors might affect this?
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Explain what is meant by the ‘base date’ in the context of life cycle costing
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What is the difference between nominal costs and real costs?
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What is the difference between capital costs and through life costs?
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What are the two common processes to bring all future costs to a value at the base date?
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Do you know what we mean by annual equivalent in the context of life cycle costing?
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Do you know what we mean by present value in the context of life cycle costing?
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What do you understand by NPV and AEV in the context of life cycle costing of life cycle costing? What method do you believe to be most common?
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In the context of life cycle costing what do we mean by present value?
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Can you give an example of a calculation to work out the net present value of a building?
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What are the various sources of data you would use for life cycle costing?
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Can you explain what we mean by terminal values and how these are incorporated into a life cycle cost?
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Can you explain what we mean by residual values and how these are incorporated into a life cycle cost?
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What do you know about life cycle costing? Can you run me through the calculation example for roof?
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