BSI Publishes Life Cycle Costing Standard
BSI Publishes Life Cycle Costing Standard
John Wolz
BSI British Standards published the first international standard on property life cycle costing.
BS ISO 15686-5:2008 is based on future public sector construction procurement being based on whole life “value for the money” life cycle costing.
The standard was developed by industry in consultation with 17 countries. It has been adopted by the UK.
“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,” BSI stated.
The standard can be used by buyers of constructed assets with an interest in long-term ownership, whether public or private; designers; contractors and suppliers of materials; cost consultants and other specialists. Web: bsigroup.com/bsiso15686-5
BSI published a book on the new standard: Standardized Method of Life Cycle Costing for Construction Procurement for guidance on service life planning and costing. The book is designed “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.” Web: bisgroup.com/pd156865
British Standards is the UK’s national standards organization and part of the BSI Group. British Standards works with businesses, consumers and government to represent UK interests in British, European and international standards. Web: bsigroup.com/britishstandards �2008 FastenerNews.com and Fastener & Fixing Europe
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