Pennsylvania life cycle costing manual

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Description

Until the 1970s, it was commonplace for institutions and governments to purchase equipment based on lowest initial (first) costs. Recurring costs such as operational, maintenance, and energy costs often were not considered in the purchase decision. If an agency wanted to buy something, it published specifications and requested bids from several manufacturers. Often, the lowest bidder who met the specifications won the job, with no consideration given to the economic life of the equipment or yearly recurring costs such as energy and maintenance costs. The practice of purchasing based on lowest initial costs probably did not make good economic sense ... continued below

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32 p.

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Creator: Unknown. February 1, 1996.

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Description

Until the 1970s, it was commonplace for institutions and governments to purchase equipment based on lowest initial (first) costs. Recurring costs such as operational, maintenance, and energy costs often were not considered in the purchase decision. If an agency wanted to buy something, it published specifications and requested bids from several manufacturers. Often, the lowest bidder who met the specifications won the job, with no consideration given to the economic life of the equipment or yearly recurring costs such as energy and maintenance costs. The practice of purchasing based on lowest initial costs probably did not make good economic sense prior to 1970, and it certainly does not make good sense now. The wise person will consider all costs and benefits associated with a purchase, both initial and post-purchase, in order to make procurement decisions that are valid for the life of the equipment. This describes a method of financial analysis that considers all pertinent costs: life cycle costing (LCC).

Physical Description

32 p.

Notes

OSTI as DE96009961

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  • Other Information: DN: Report includes diskette designed to run on IBM PC or compatible equipment.

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  • Other: DE96009961
  • Report No.: DOE/EE--0080
  • DOI: 10.2172/219335 | External Link
  • Office of Scientific & Technical Information Report Number: 219335
  • Archival Resource Key: ark:/67531/metadc663925

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Office of Scientific & Technical Information Technical Reports

Reports, articles and other documents harvested from the Office of Scientific and Technical Information.

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Creation Date

  • February 1, 1996

Added to The UNT Digital Library

  • June 29, 2015, 9:42 p.m.

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  • Dec. 3, 2015, 5:47 p.m.

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Pennsylvania life cycle costing manual, report, February 1, 1996; United States. (digital.library.unt.edu/ark:/67531/metadc663925/: accessed October 20, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.