BSI British Standards on property life cycle costs

BSI British Standards publishes the first international Standard on property life cycle costing.

With the news that all future major public sector construction procurement must be based on whole life 'value for money', life cycle costing is a valuable technique which is used for predicting and assessing the cost performance of constructed assets.

The first international Standard for property life cycle costing BS ISO 15686-5:2008 has been adopted in the UK.

Developed by industry and in consultation with 17 countries, it is expected to have a major impact on all future construction procurement - particularly major investment and Private Finance Initiative (PFI) and Public-private partnership (PPP) projects.

It is anticipated that the British Standard will have an impact upon the design of new buildings through clients' desire to set the right budgets and optimize their life cycle costs, from a whole-life value and sustainable development perspective.

Who will use this standard on life cycle costing?.

* Procurers of constructed assets, with an interest in long term ownership - these may be public or private, or lessees with a reasonably long period of interest in the property and/or responsibility for maintenance and /or operational costs.

* Designers.

* Constructors and their specialist suppliers of materials and components.

* Facility operators (to help them input more effectively into the design process).

* Cost consultants and other specialists.

bsigroup.com/bsiso15686-5.

To read more visit the website.

Also Available - Supporting Book.

Standardized Method of Life Cycle Costing for Construction Procurement.

This new book offers guidance on the Standard BS ISO 15686-5:2008 Buildings and constructed assets.

Service life planning.

Life cycle costing.

The publication will help you understand the practical application of the new British Standard.

It aims to help eliminate confusion over scoping and terminology and to address concerns over the uncertainty and risks that are undermining confidence in life cycle costs used for construction procurement.

Also: Life Cycle Costing Conference Introducing BS ISO 15686-5 24 September 2008, London.

Is life cycle costing at the heart of your procurement and construction processes?.

This BSI British Standards conference will enable delegates to get to grips with BS ISO 15686-5:2008 and life cycle costing.

For speakers, programme and to book, visit the website.

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