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Significant Factors Affecting the Life Cycle Cost Elements of a Building

Authors:

J. Samaranayake,

University of Moratuwa, LK
About J.
Department of Building Economics
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T. Ramachandra,

University of Moratuwa, LK
About T.
Department of Building Economics
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U. G. D. Madushika

University of Moratuwa, LK
About U. G. D.
Department of Building Economics
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Abstract

Life Cycle Cost (LCC) is a vital decision-making tool for realization of investments. However, it is often challenging to forecast the LCC of a building as it comprises of several elements which are influenced by a range of factors. Hence, this study was carried out to identify the significant factors affecting LCC elements of buildings. Twenty-four (24) factors and ten (10) significant LCC elements identified through a comprehensive literature review were presented to thirty-four (34) experts reached through a purposive sampling method. A questionnaire survey was conducted to collect their views on the significance of those factors while a weighted mean was used to determine the relative significance and thereby identify the level of influence of each factor on the respective LCC elements of buildings. The study concluded that the (6) six most significant factors include: plan shape of the building, size of the building, number of occupants, quality of materials and equipment used, the function of the building, and technology used. Further delving into analysis indicates that all 24 factors influence the construction and maintenance management cost elements at different significant levels. Further, the highest number of elements (8 out of 10), such as construction, utility, administration, services management, cleaning, external work, repair and replacement, and maintenance management are highly influenced by the function of the building.  Next to the function, lifetime of the building highly influences the six LCC elements such as construction, utility, administration, services management, repair and replacement, and maintenance management. Similarly, every LCC element is influenced by each factor in different levels and further discussed in this study. Hence, the study recommends that cost practitioners should give due consideration to highly influencing factors to optimise the LCC of a building during its early life cycle phase.
How to Cite: Samaranayake, J., Ramachandra, T. and Madushika, U.G.D., 2021. Significant Factors Affecting the Life Cycle Cost Elements of a Building. FARU Journal, 8(1), pp.57–67. DOI: http://doi.org/10.4038/faruj.v8i1.95
Published on 19 Nov 2021.
Peer Reviewed

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