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What is whole-life cost?


Manufacturing is of vital importance to an economy and is key to the successful operation of sectors which include automotive, rail, shipbuilding, aerospace, offshore engineering, process, power generation, construction and defense. Within these sectors, a wide range of processes and practices are employed in taking raw material and turning it into a product which is then used, maintained and finally disposed of by the end user.

Whole-life cost represents all the costs - material, energy and waste - associated with the life of a product and involves consideration of all aspects of procurement, manufacture, operation (including maintenance) and disposal.

Closely associated with whole-life costs are considerations for sustainability.

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