Lifecycle Costing (LCC) is a financial analysis technique used to estimate the total cost of owning and operating a product, system, or asset over its entire lifecycle, from design and production to operation, maintenance, and eventual disposal or recycling. This approach takes into account not just the initial purchase or manufacturing cost, but also ongoing expenses such as maintenance, energy consumption, repairs, and end-of-life disposal costs. For example, a manufacturer might use LCC to evaluate different machine models, considering both upfront costs and long-term operational expenses like energy use and maintenance. LCC helps companies make more informed investment decisions, optimize resource allocation, and reduce long-term operational costs. By considering the full cost over the product’s lifespan, manufacturers can select more sustainable and cost-effective solutions.