Whole life costing
Our dedicated Whole Life Costing (WLC) team optimises value through the early consideration of both capital costs and maintenance and operational costs associated with any given project or programme.
Our approach helps clients to identify the most efficient, sustainable and transformative options for their estates.
Having contributed to drafting the ISO15868 global standard on lifecycle costings, as well as the RICS guidance, Gleeds is at the forefront of defining WLC.
To be transformative, WLC must consider not just the value and affordability of design options for a building but also the operational long-term impact.
We plan and develop WLC models that give the client full visibility of an asset’s lifecycle costs, and greater foresight of their capital allowance requirements and financing timelines. This informs decision-making on expenditure during site acquisition, development and maintenance aspects.
Our experts undertake an initial analysis in accordance with ISO 15868: Part 5 to provide consistency and comparability.
The output from this initial analysis allows us to develop solutions that will decrease cost over the lifetime of the development as well as identifying other potential benefits such as reduction of carbon consumption. We make pragmatic evidence-based recommendations on OPEX vs CAPEX. Our WLC model will evolve as the project develops, gaining granularity and accuracy. The model is updated at each project gateway, culminating with a final report when the scheme is delivered.
Producing the WLC model
We understand that decisions should be based not only on cost, but also on time, value, sustainability, and quality, as well as outcomes and transformation impact where relevant.
Our in-house digital experts create the bespoke WLC model, benchmark the results and make recommendations. Our digital solution allows us to change the duration of the model at any period of time, from anywhere between five and 120 years, to see the impact it has on the whole life cost of the project or programme.
Access to our vast in-house Gleeds Intelligence+ database of project and programme benchmarks allows us to:
- Compare the project or process with others in a similar scenario
- Demonstrate that we’re getting the right value for money
- Paying the right price for each service required
- Set realistic targets.
Whole life costing team
Edna Benavides
Madrid, Spain
