Lifecycle Value Realisation

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Version 1.2, October 2016

Lifecycle Value Realisation covers the activities undertaken by an organisation to establish the desired balance for the costs and benefits of different interventions for maintenance, renewal and disposal. In practice, this is a combination of Capital Investment Decision-Making and Operations & Maintenance Decision-Making techniques to optimise the value obtained from assets. Lifecycle Value Realisation requires the optimisation of both lifecycle costs, and the value obtained from assets over the organisation’s period of responsibility.

In order to achieve this outcome, it is necessary to apply both Lifecycle Costing (LCC) and Value Optimisation (VO) techniques. This document defines these techniques and explains how they are related.