Abstract
Life cycle cost management is an integral part of buildings construction. The life cycle cost approach can be considered an objective approach because it considers all life cycles of buildings. Information and communication technology is one of the critical factors for the success of construction projects. Several studies point to the importance of information and communication technology use in life cycle cost management. Generally, information and communication technology can be helpful in the cost management process of buildings. However, few implementation factors of information and communication technology are used in the life cycle cost management of buildings. The research assumes that the most critical implementation factor is the investment cost for information and communication technologies used in cost management during the life cycle. The relative importance index method was used to evaluate and quantify the final rank of implementation factors. The Kruskal–Wallis test was used to confirm or reject research results that were statistically significant.
Highlights
The issue of cost optimization is topical, when participants in construction projects strive to reduce costs from the life cycle cost perspective
This research sought to quantify and analyze these implementation factors focusing on cost optimization throughout the life cycle of the construction project and a positive impact on cost management during the life cycle of buildings
It is necessary to examine the issue of implementation factors of information and communication technology (ICT) adoption in life cycle cost management and, in particular, to quantify and manage the actual cost of a construction project during its entire life cycle
Summary
The issue of cost optimization is topical, when participants in construction projects strive to reduce costs from the life cycle cost perspective. Life cycle cost management plays an important role that focuses on cost optimization [1]. This approach has more potential for use than is currently utilized. This is because the relevant databases of information on the expected lifetime of buildings, the time and extent to which they require repairs, and the structures’ maintenance costs are not available. Several authors have specified the so-called life cycle cost (LCC) [3] This is mainly the sum of costs during the construction project’s individual stages, such as ownership, implementation, maintenance, and liquidation of the building. Environmental conditions, lack of communication, and skilled labor availability affect costs and time, even during the maintenance phase
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