Consider Life Cycle Cost[]
Think about the costs involved in production use, consumption, and dealing with waste and consequences - the whole lifespan of a product or activity. When we consider such full costs right up front - instead of just keeping our initial costs low - we tend to create smarter, more sustainable projects and designs.
Instead of looking only at the initial cost of a project or activity and dismissing forward-thinking project elements that support longer-term value as "uneconomical".
EARLIER VERSION: Basing decisions on the total cost of a project over its lifespan leads to different decisions than just focusing on low initial cost. This leads to a more sustainable approach even with the many factors our current pricing structures leave out of the picture (like the true cost of energy). As these factors are accounted for, looking at a project’s total cost may justify dramatic design changes.
Instead of: Looking only at the initial cost of a project or activity and allowing “value engineering” to eliminate forward-thinking project elements that support longer-term value.
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