ISO 15686-5:2017 provides requirements and guidelines for performing life-cycle cost (LCC) analyses of buildings and constructed assets and their parts, whether new or existing.
NOTE 1 Life-cycle costing takes into account cost or cash flows, i.e. relevant costs (and income and externalities if included in the agreed scope) arising from acquisition through operation to disposal.
NOTE 2 Life-cycle costing typically includes a comparison between alternatives or an estimate of future costs at portfolio, project or component level. Life-cycle costing is performed over an agreed period of analysis, clearly identifying whether the analysis is for only part of or for the entire life cycle of the constructed asset.