Understanding Total Lifecycle Cost

If you’ve read our previous paper on the levers of procurement value, (“What Drives Public Procurement Value?,” available to registered members of Public Spend Forum) you know I outlined four areas where you can achieve the many goals of procurement while also fulfilling your mission needs. In other words, ways to get the most value out of the work you do. Those levers were split into four groups: pricebased levers, total life cycle cost levers, demand management levers and supply base levers. This article will broaden our focus to the total cost elements that drive the true cost of a purchase over its entire useful life cycle.

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