Home > Terms > English, UK (UE) > Life cycle cost

Life cycle cost

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.

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  • Part of Speech: noun
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  • Industry/Domain: Accounting
  • Category: Auditing
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