Life Cycle Costing in Project Management

&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad1" id&equals;"quads-ad1" style&equals;"float&colon;left&semi;margin&colon;0px 0px 0px 0&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<p align&equals;"justify">The purpose of life cycle costing is to calculate end to end cost of the product rather than the cost of the project&period; The other way to elaborate this concept is the cost of the entire life cycle of the product not only project to produce the product&period; <&sol;p>&NewLine;<p align&equals;"justify">The common mistakes most project managers do to reduce the cost of the project by sacrificing important factors such as risk and performance&period; As a result&comma; the maintenance cost of product life cycle increased due to low quality standard product&period;<&sol;p>&NewLine;<p align&equals;"justify">For example&comma; if you have planned to complete the project at low cost say USD 10&comma;000 by reducing the quality however&comma; the maintenance cost is USD 50&comma;000 rather than USD 15&comma;000 over the product’s life&period; The maintenance could the same as planned or even below if the project manager’s delivers the product of high quality without reducing the cost of the project to create product&period;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad2" id&equals;"quads-ad2" style&equals;"float&colon;none&semi;margin&colon;0px 0 0px 0&semi;text-align&colon;center&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad3" id&equals;"quads-ad3" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;