Whole life costing (WLC)

Whole life costing (WLC) takes account of total cost of an item over its whole life. It includes the cost of maintaining and operating the item and is a mechanism to deliver improved value for money.

Benefits of WLC

• Reduced cost in the medium and long term.
• Reduced risk.
• Planned and budgeted maintenance control.
• Informed and standardised decision making.
• Better compliance with regulations on procurement from the EU and other bodies and with best practice.

When to use WLC

• When items or projects have ongoing running costs.
• When items require ongoing renewal or replacement.