Whole life performance
Whole life performance and whole life costing are increasingly the approaches used by clients to procure buildings, maintain assets and make strategic decisions about their built stock. No longer is initial cost the overriding factor in specifying a building or constructed asset. Practitioners have the opportunity to apply whole life performance and costing approach to many aspects of their work in order to provide: professional advice in evaluating and comparing options; models for financial and planning issues; and a benchmark to compare alternatives and monitor performance. Definitions, options, assessment, challenges, and alternative approaches to whole life performance and costing are considered in this section.