Lifecycle Costs in Commercial Management of Orders and Contracts

This Skill Bit talks about Lifecycle Costs, which explain the total expenses incurred throughout a product, asset, or system’s lifespan. It goes beyond the initial purchase price to consider operating, maintenance, and disposal costs, empowering businesses to make informed decisions based on long-term financial impact.

Duration approx. 4 Min.

Tier: proficiency

A part of Building an Effective Procurement Management Plan course.