{"id":6847,"date":"2021-03-11T15:26:11","date_gmt":"2021-03-11T15:26:11","guid":{"rendered":"https:\/\/swefc.unm.edu\/iamf\/?page_id=6847"},"modified":"2026-04-29T20:42:13","modified_gmt":"2026-04-29T20:42:13","slug":"life-cycle-costing-life-cycle-phases-overview","status":"publish","type":"page","link":"https:\/\/swefc.unm.edu\/iamf\/life-cycle-costing-life-cycle-phases-overview\/","title":{"rendered":"Life Cycle Costing \/ Life Cycle Phases \/ Overview"},"content":{"rendered":"

[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|tablet” _builder_version=”4.16″ _module_preset=”default” positioning=”none” horizontal_offset_tablet=”” horizontal_offset_phone=”” horizontal_offset_last_edited=”on|tablet” custom_margin=”0px||||false|false” custom_margin_tablet=”” custom_margin_phone=”” custom_margin_last_edited=”on|desktop” custom_padding=”0px|||0px|false|false” custom_padding_tablet=”|||25px|false|false” custom_padding_phone=”” da_disable_devices=”off|off|off” global_colors_info=”{}” custom_padding__hover_enabled=”on|desktop” custom_padding__hover=”0px|||0px|false|false” theme_builder_area=”post_content” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” width=”100%” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”]<\/p>\n

Life Cycle Costing<\/h2>\n

 <\/p>\n

Life Cycle Costing\u00a0is\u00a0a methodology\u00a0that provides an estimate of the total capital,\u00a0operating\u00a0and maintenance costs of an asset over its operating life and enables these costs to be\u00a0optimized\u00a0to obtain maximum useful life while\u00a0maintaining\u00a0the level of service. Relevant costs include those for each of the life cycle phases of planning, design, acquisition, installation, maintenance, rehabilitation, replacement, retirement\/decommissioning\/disposal,\u00a0and any other costs directly attributable to owning,\u00a0operating,\u00a0or using an asset.<\/span>\u00a0<\/span><\/p>\n

During each of these phases, there are opportunities to intervene in the asset\u2019s life.\u00a0An intervention at any phase\u00a0comes with a resource cost, including\u00a0time and money. It is necessary to ask questions about the necessity and manner of intervention at each stage to\u00a0optimize\u00a0the total cost of the asset over its entire life.\u00a0<\/span>\u00a0<\/span><\/p>\n

An asset goes through many phases during its life cycle. During each phase, there are costs associated with that asset. Understanding the full\u00a0Life\u00a0Cycle\u00a0Costs allows a system to make decisions that\u00a0optimize\u00a0the funds available. The phases in an asset\u2019s life cycle are as follows:<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ _module_preset=”default” width=”100%” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_blurb title=”Planning” image=”https:\/\/swefc.unm.edu\/iamf\/wp-content\/uploads\/2021\/03\/post-it.jpg” _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ border_radii_image=”on|25px|25px|25px|25px” global_colors_info=”{}” theme_builder_area=”post_content” body_font_size=”16px” sticky_enabled=”0″]<\/p>\n

The first phase of the asset\u2019s lifecycle is planning. At this stage, asset requirements are\u00a0<\/span><\/span>established<\/span>\u00a0<\/span>and verified.\u00a0<\/span><\/span>Potential locations and a<\/span>lternative ways of meeting the requirements are also considered.<\/span><\/span>\u00a0<\/span><\/p>\n

Photo: Leon Unsplash<\/a><\/span><\/p>\n

[\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_blurb title=”Design & Selection” image=”https:\/\/swefc.unm.edu\/iamf\/wp-content\/uploads\/2021\/03\/Pencil-on-Plans.jpg” _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ border_radii_image=”on|25px|25px|25px|25px” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content” body_font_size=”16px” sticky_enabled=”0″]<\/p>\n

The\u00a0<\/span><\/span>d<\/span>esign\u00a0<\/span><\/span>p<\/span>hase is where the evaluation of\u00a0<\/span><\/span>the potential<\/span>\u00a0<\/span>solutions is narrowed down to what is intended to be the most effective and efficient way to achieve the intended purpose. The\u00a0<\/span><\/span>d<\/span>esign\u00a0<\/span><\/span>p<\/span>hase answers questions about which specific assets will be\u00a0<\/span><\/span>required<\/span>, what they will be made of, how big they will be, and how they are to be constructed.<\/span>\u00a0<\/span>This could include engineering or other specialist support, or decisions made by operators to ensure that the proper materials and assets are\u00a0<\/span><\/span>chosen.<\/span><\/span>\u00a0<\/span><\/p>\n

Photo: rgbstock<\/a><\/span><\/span><\/p>\n

[\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ _module_preset=”default” width=”100%” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_blurb title=”Installation” image=”https:\/\/swefc.unm.edu\/iamf\/wp-content\/uploads\/2021\/03\/pipeintrench.jpg” _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ border_radii_image=”on|25px|25px|25px|25px” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content” body_font_size=”16px” sticky_enabled=”0″]<\/p>\n

This is the point in the project when construction\u00a0<\/span><\/span>or installation occurs.<\/span>\u00a0<\/span><\/span>During this phase, the asset is integrated within the system.<\/span><\/span>\u00a0<\/span><\/p>\n

.<\/span><\/span><\/p>\n

[\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_blurb title=”Operations” image=”https:\/\/swefc.unm.edu\/iamf\/wp-content\/uploads\/2021\/04\/Lego-1024×579.jpg” _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ border_radii_image=”on|25px|25px|25px|25px” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content” body_font_size=”16px” sticky_enabled=”0″]<\/p>\n

The<\/span>\u00a0<\/span>asset is being used within the system, performing its intended tasks. In some cases, this performance is passive, needing no intervention from personnel, such as a pipe. In other cases, the performance is active, meaning some intervention is\u00a0<\/span><\/span>required<\/span>\u00a0<\/span>either directly from an operator or through electronic means, such as a pump. The asset\u00a0<\/span><\/span>might<\/span>\u00a0<\/span>need to be turned on or\u00a0<\/span><\/span>off,<\/span>\u00a0<\/span>it\u00a0<\/span><\/span>might<\/span>\u00a0<\/span>need to be changed from lead to lag, it\u00a0<\/span><\/span>might<\/span>\u00a0<\/span>need to be paced with other actions (e.g., a chlorine pump starting when the well starts<\/span>,<\/span>\u00a0<\/span>or a wastewater pump turning on when a wet well fills up<\/span>)<\/span>. The intent in the operations phase is to keep the asset\u00a0<\/span><\/span>operating<\/span>\u00a0<\/span>within its design specifications for as long as possible<\/span>.<\/span><\/span>\u00a0<\/span><\/p>\n

[\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ _module_preset=”default” width=”100%” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_blurb title=”Maintenance” image=”https:\/\/swefc.unm.edu\/iamf\/wp-content\/uploads\/2021\/03\/hydrant-painted.jpg” _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ border_radii_image=”on|25px|25px|25px|25px” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content” body_font_size=”16px” sticky_enabled=”0″]<\/p>\n

In this phase, the asset performance in executing the work for which it was designed is\u00a0<\/span><\/span>maintained<\/span>.\u202f\u202fThe purpose of the\u00a0<\/span><\/span>m<\/span>aintenance\u00a0<\/span><\/span>p<\/span>hase is to ensure the asset is fully functional and performs optimally until the asset reaches its end of life. Asset maintenance refers to regularly scheduled preventative maintenance.<\/span><\/span>\u00a0<\/span><\/p>\n

[\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ _module_preset=”default” width=”100%” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_text _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” text_font_size=”16px” sticky_enabled=”0″]<\/p>\n

The next phases of the\u00a0<\/span><\/span>asset\u2019s<\/span>\u00a0<\/span>life occur after the asset fails or before failure<\/span>\u00a0<\/span><\/span>if it is necessary to avoid a sever<\/span>e consequence, as in<\/span>\u00a0<\/span><\/span>the case\u00a0<\/span><\/span>of\u00a0<\/span><\/span>high-risk<\/span>\u00a0<\/span>assets. The asset\u00a0<\/span><\/span>might<\/span>\u00a0<\/span>go through one, two, or all three of these phases depending on asset risk, cost, technology, underlying\u00a0<\/span><\/span>condition,<\/span>\u00a0<\/span>and several other factors. These phases\u00a0<\/span><\/span>include<\/span>\u00a0<\/span>Repair, Rehabilitation<\/span>,<\/span>\u00a0<\/span>and Replacement.<\/span><\/span>\u00a0<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ _module_preset=”default” width=”100%” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_blurb title=”Repair” image=”https:\/\/swefc.unm.edu\/iamf\/wp-content\/uploads\/2021\/03\/pipe-clamp.jpg” _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ border_radii_image=”on|25px|25px|25px|25px” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content” body_font_size=”16px” sticky_enabled=”0″]<\/p>\n

The underlying asset has structural integrity and some useful life remaining. Bringing the asset back to operational condition can be completed with a repair or partial replacement.<\/span><\/span>\u00a0<\/span><\/p>\n

[\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_blurb title=”Rehabilitation ” image=”https:\/\/swefc.unm.edu\/iamf\/wp-content\/uploads\/2021\/03\/Rehab.jpg” _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ border_radii_image=”on|25px|25px|25px|25px” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]<\/p>\n

Most of<\/span>\u00a0<\/span>the\u00a0<\/span><\/span>asset needs<\/span>\u00a0<\/span>to be replaced<\/span>.<\/span>\u00a0<\/span><\/span>O<\/span>nly the basic structure\u00a0<\/span><\/span>remains<\/span>. This type of return to functionality is done when the asset has some structural integrity<\/span>;\u00a0<\/span><\/span>there is\u00a0<\/span><\/span>technology<\/span>\u00a0<\/span>to allow rehabilitation<\/span>, and\u00a0<\/span><\/span>the asset can achieve enough\u00a0<\/span><\/span>additional<\/span>\u00a0<\/span>useful life to make the investment worthwhile.<\/span><\/span>\u00a0<\/span><\/p>\n

[\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ _module_preset=”default” width=”100%” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_blurb title=”Replacement” image=”https:\/\/swefc.unm.edu\/iamf\/wp-content\/uploads\/2021\/04\/Disposal3.jpg” _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ border_radii_image=”on|25px|25px|25px|25px” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content” body_font_size=”16px” sticky_enabled=”0″]<\/p>\n

The entire asset needs to be replaced with a new asset. In this case, the decision has been made that neither repair nor rehabilitation are\u00a0<\/span><\/span>possible options<\/span>, or they provide insufficient\u00a0<\/span><\/span>additional<\/span>\u00a0<\/span>remaining useful life to be worth the investment. This situation\u00a0<\/span><\/span>might<\/span>\u00a0<\/span>occur if the damage to the asset is severe, if the asset is no longer supported by the manufacturer, or if the cost of the repair and rehabilitation options is high.<\/span><\/span>\u00a0<\/span><\/p>\n

[\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_blurb title=”Disposal ” image=”https:\/\/swefc.unm.edu\/iamf\/wp-content\/uploads\/2021\/04\/Disposal-old-pipe.jpg” _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ border_radii_image=”on|25px|25px|25px|25px” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content” body_font_size=”16px” sticky_enabled=”0″]<\/p>\n

An asset that has been replaced or is no longer needed to provide the level of service must be abandoned in place<\/span>, decommissioned, or\u00a0<\/span><\/span>disposed of. Abandon in place options\u00a0<\/span><\/span>might<\/span>\u00a0<\/span>be less costly initially but\u00a0<\/span><\/span>might<\/span>\u00a0<\/span>be less desirable\u00a0<\/span><\/span>in the long run<\/span>. In these cases, the asset\u00a0<\/span><\/span>remains<\/span>\u00a0<\/span>but continues to deteriorate and take up space<\/span>.\u00a0<\/span><\/span>It is also important to make sure that the asset is truly abandoned. In some cases, the \u201cabandoned\u201d asset\u00a0<\/span><\/span>might<\/span>\u00a0<\/span>still be connected to the system in some way.\u00a0<\/span><\/span>\u00a0<\/span><\/p>\n

[\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ _module_preset=”default” width=”100%” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_text _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″ text_font_size=”16px”]<\/p>\n

During each of these phases, there are numerous opportunities to intervene in the asset\u2019s life. Each intervention, (planning, design, construction, operation, maintenance, repair, replacement, disposal) comes with a resource cost \u2013 time and money. It is necessary to ask questions about the necessity and manner of intervention at each stage to optimize the total cost of the asset over its entire life.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

Life Cycle Costing   Life Cycle Costing\u00a0is\u00a0a methodology\u00a0that provides an estimate of the total capital,\u00a0operating\u00a0and maintenance costs of an asset over its operating life and enables these costs to be\u00a0optimized\u00a0to obtain maximum useful life while\u00a0maintaining\u00a0the level of service. Relevant costs include those for each of the life cycle phases of planning, design, acquisition, installation, maintenance, rehabilitation, replacement, retirement\/decommissioning\/disposal,\u00a0and any other costs directly attributable to owning,\u00a0operating,\u00a0or using an asset.\u00a0 During each of these phases, there are opportunities to intervene in the asset\u2019s life.\u00a0An intervention at any phase\u00a0comes with a resource cost, including\u00a0time and money. It is necessary to ask questions about the necessity and manner of intervention at each stage to\u00a0optimize\u00a0the total cost of the asset over its entire life.\u00a0\u00a0 An asset goes through many phases during its life cycle. During each phase, there are costs associated with that asset. Understanding the full\u00a0Life\u00a0Cycle\u00a0Costs allows a system to make decisions that\u00a0optimize\u00a0the funds available. The phases in an asset\u2019s life cycle are as follows:The first phase of the asset\u2019s lifecycle is planning. At this stage, asset requirements are\u00a0established\u00a0and verified.\u00a0Potential locations and alternative ways of meeting the requirements are also considered.\u00a0 Photo: Leon UnsplashThe\u00a0design\u00a0phase is where the evaluation of\u00a0the potential\u00a0solutions is narrowed down to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-6847","page","type-page","status-publish","hentry"],"yoast_head":"\nLife Cycle Costing \/ Life Cycle Phases \/ Overview - Integrated Asset Management Framework<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/swefc.unm.edu\/iamf\/life-cycle-costing-life-cycle-phases-overview\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Life Cycle Costing \/ Life Cycle Phases \/ Overview - Integrated Asset Management Framework\" \/>\n<meta property=\"og:description\" content=\"Life Cycle Costing   Life Cycle Costing\u00a0is\u00a0a methodology\u00a0that provides an estimate of the total capital,\u00a0operating\u00a0and maintenance costs of an asset over its operating life and enables these costs to be\u00a0optimized\u00a0to obtain maximum useful life while\u00a0maintaining\u00a0the level of service. Relevant costs include those for each of the life cycle phases of planning, design, acquisition, installation, maintenance, rehabilitation, replacement, retirement\/decommissioning\/disposal,\u00a0and any other costs directly attributable to owning,\u00a0operating,\u00a0or using an asset.\u00a0 During each of these phases, there are opportunities to intervene in the asset\u2019s life.\u00a0An intervention at any phase\u00a0comes with a resource cost, including\u00a0time and money. It is necessary to ask questions about the necessity and manner of intervention at each stage to\u00a0optimize\u00a0the total cost of the asset over its entire life.\u00a0\u00a0 An asset goes through many phases during its life cycle. During each phase, there are costs associated with that asset. Understanding the full\u00a0Life\u00a0Cycle\u00a0Costs allows a system to make decisions that\u00a0optimize\u00a0the funds available. The phases in an asset\u2019s life cycle are as follows:The first phase of the asset\u2019s lifecycle is planning. At this stage, asset requirements are\u00a0established\u00a0and verified.\u00a0Potential locations and alternative ways of meeting the requirements are also considered.\u00a0 Photo: Leon UnsplashThe\u00a0design\u00a0phase is where the evaluation of\u00a0the potential\u00a0solutions is narrowed down to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/swefc.unm.edu\/iamf\/life-cycle-costing-life-cycle-phases-overview\/\" \/>\n<meta property=\"og:site_name\" content=\"Integrated Asset Management Framework\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-29T20:42:13+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/life-cycle-costing-life-cycle-phases-overview\\\/\",\"url\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/life-cycle-costing-life-cycle-phases-overview\\\/\",\"name\":\"Life Cycle Costing \\\/ Life Cycle Phases \\\/ Overview - Integrated Asset Management Framework\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/#website\"},\"datePublished\":\"2021-03-11T15:26:11+00:00\",\"dateModified\":\"2026-04-29T20:42:13+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/life-cycle-costing-life-cycle-phases-overview\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/life-cycle-costing-life-cycle-phases-overview\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/life-cycle-costing-life-cycle-phases-overview\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Life Cycle Costing \\\/ Life Cycle Phases \\\/ Overview\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/#website\",\"url\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/\",\"name\":\"Integrated Asset Management Framework\",\"description\":\"Combining Green and Gray Assets\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Life Cycle Costing \/ Life Cycle Phases \/ Overview - Integrated Asset Management Framework","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/swefc.unm.edu\/iamf\/life-cycle-costing-life-cycle-phases-overview\/","og_locale":"en_US","og_type":"article","og_title":"Life Cycle Costing \/ Life Cycle Phases \/ Overview - Integrated Asset Management Framework","og_description":"Life Cycle Costing   Life Cycle Costing\u00a0is\u00a0a methodology\u00a0that provides an estimate of the total capital,\u00a0operating\u00a0and maintenance costs of an asset over its operating life and enables these costs to be\u00a0optimized\u00a0to obtain maximum useful life while\u00a0maintaining\u00a0the level of service. Relevant costs include those for each of the life cycle phases of planning, design, acquisition, installation, maintenance, rehabilitation, replacement, retirement\/decommissioning\/disposal,\u00a0and any other costs directly attributable to owning,\u00a0operating,\u00a0or using an asset.\u00a0 During each of these phases, there are opportunities to intervene in the asset\u2019s life.\u00a0An intervention at any phase\u00a0comes with a resource cost, including\u00a0time and money. It is necessary to ask questions about the necessity and manner of intervention at each stage to\u00a0optimize\u00a0the total cost of the asset over its entire life.\u00a0\u00a0 An asset goes through many phases during its life cycle. During each phase, there are costs associated with that asset. Understanding the full\u00a0Life\u00a0Cycle\u00a0Costs allows a system to make decisions that\u00a0optimize\u00a0the funds available. The phases in an asset\u2019s life cycle are as follows:The first phase of the asset\u2019s lifecycle is planning. 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