Life Cycle Economics (5 cr)

Objective

On completion of the course the student will be familiar with the basic concepts related to the life cycle and operational economy of a project, as well as calculations related to life cycle costs and maintenance. The student will be familiar with the basics of building management solutions during the life cycle of a building. The student will be able to calculate the life cycle costs of a building or renovation project and is able to draw up long-term plans for real estate maintenance.

Content

1. The life cycles of a building and its parts
2. The principles of operational economy
3. The renovation and renewal cycles of structures and systems
4. The life cycle costs of a real estate and the cost calculation of maintenance
5. Long-term maintenance plan
6. The use of a maintenance manual in the maintenance of a real estate
7. The principles of real estate business
8. Different value concepts of a real estate and grounds for their change

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

The student knows the life cycle of a building and its components. In addition, the student knows the principles of life cycle cost calculation and of different maintenance solutions.

Assessment criteria, good (3)

The student is able to apply the life cycles of a building and its components when calculating life cycle costs and creating long-term plans.

Assessment criteria, excellent (5)

The student is able to apply the principles of operational economy and life cycle cost calculation proficiently in real estate maintenance and long-term planning.

Assessment criteria, approved/failed

The student knows the life cycle of a building and its components. In addition, the student knows the principles of life cycle cost calculation and of different maintenance solutions.

Qualifications

Basics of Construction Economics, Cost Management