LCC Software (background, functions & features that available for LCC modules)
Building Information Modeling (BIM)
Background
This BIM tool is capable in bringing more realistic visuals to blueprints, plus it is believed
to produce more than just a 3D model. It is proven to have beneficial objectives in
improving accuracy, examine energy-efficiency levels, reducing costs and time of overall
construction process as well as having the ability to eradicate the need of rework. Why is
it said to involve more than 3D modeling? Smith (2014) affirmed that this star player may
include further dimensions such as 4D (time), 5D (cost), 6D (as-built operation), 7D
(sustainability) and even 8D (safety) (as cited in Cherkaoui, 2017). Real-life events can
be applied on the model by implementing BIM and as a consequence, the field players
can oversee whether the building complies with the initial specifications and standards
they have to achieve.
Functions & Features That Available For LCC Modules
While 5D BIM (Cost Modeling) is currently being used in Quantity Survey (QS) practice,
BIM is not commonly used in LCC application and there has been limited research to
date in this field (Kehily & Underwood, 2017). The work demonstrates the development
of a 5D BIM-based LCC approach, where LCC is incorporated into the 5D BIM cycle by
integrating a model structure for LCC calculation. The 5D BIM environment provides a
facility to firstly post-process the quantities and then subsequently map them to the LCC
calculation structure and schema. Features inherent in some of the leading 5D BIM
estimating applications namely Exactal CostX and Nomitech CostOS is a configuration
function that allows users to add columns and functions to the default workbook of the
application. Apparently, users may modify cost data to include adjustments for additional
LCC variables that cannot be extracted from the model through spreadsheet functions.
Within a 5D BIM system this method could potentially accommodate the probabilistic
LCC calculations. Outlining a calculation methodology within a spreadsheet format that
could be incorporated in 5D BIM would ground the system within current LCC
methodologies, which suggest calculations and algorithms should be in a spreadsheet
framework (OGC, 2007; BSI/BCIS, 2008; RICS, 2014).
D-LCC (Decision by Life Cycle Cost)
Background
Several vendors of the program were evaluated. D-LCC was the only product designed
specifically for addressing LCC but not restricted to a particular market, business or
technology. D-LCC also adapted to our criteria: versatile enough to construct a 'from
scratch' model, as 'canned' models contained all legacies of disappearing procurement
paradigms and powerful and user-friendly enough to allow model building effectively
(Robert N. McGrath, ERAU). This facilitates a convenient and thorough LCC review. D-
LCC is an essential resource for managers, decision-makers, engineers, ILS workers
and other employees involved in device procurement, proposal writing, management,
development, manufacturing and support through life.
Functions & Features That Available For LCC Modules
Life Cycle Cost is calculated by the use of a new Cost Breakdown Structure (CBS)
supplied or generated and the allocation of cost variables to each primary CBS feature.
D-LCC offers cost estimates from the bottom up, upholds detailed examination of the
costs and criteria affecting LCC, and oversees Net Present Cost (NPC) analysis. D-LCC
is believed to be capable in performing:
Evaluation and comparison of alternative design approaches
Comparison of alternative strategies
Identification of cost effective improvements
Project's budget and economic viability assessment
Long term financial planning
Development of new cost structures and models from predefined LCC projects. It
is easy to modify an existing CBS to meet all the needs of any particular project
The Product Tree Cost Calculation option allows to integrate the Product Tree
parameters into the LCC model and to calculate any necessary cost elements (such as
the cost of replacement parts for each repair level) across all Product Tree products.
NPC is an act of identifying the present value of potential cash flows. The NPC analysis
also provides a contrast between options and various inflation and discount rates and it
is a major advantage that D-LCC is competent to meet all the works.
