LIFE CYCLE COST MANAGEMENT AND RISK RETURN FRAMEWORK

LCC is a notion that can help many different businesses improve their procurement efficiency. In the grand scheme of things, It is useful for possible asset management plans since it helps visualize all costs spent by an asset during its lifecycle and promotes future transparency of activities around the asset. Risk assessment and mitigation are the focus areas of this research, the modeling of probabilistic assumptions, and the stochastic evaluation of LCC. In an attempt to make the LCC model more accurate and applicable to estate managers and seniorlevel capital investment decision makers, this research makes major strides forward from earlier LCC models. By integrating life cycle costing and risk management techniques, practitioners may provide more accurate predictions of future operational costs.