Economic life of a building - Revision history

Designing Buildings at 06:54, 6 March 2024

2024-03-06T06:54:23Z

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	However, as there is no general legally-agreed definition of economic life, if it is to be included in contract documentation as a performance requirement, it is important that it is carefully defined within those contract documents and that it is consistent with all other requirements in the contract documents.		However, as there is no general legally-agreed definition of economic life, if it is to be included in contract documentation as a performance requirement, it is important that it is carefully defined within those contract documents and that it is consistent with all other requirements in the contract documents.

−	Other definitions include:	+	NB [https://www.bsria.com/uk/product/Bwxegr/useful_information_guide_bg_872024_a15d25e1/ BG 87/2024, Useful Information Guide], written by Chin Hang “Kay” Lam and published by BSRIA in 2024, defines economic life as: ‘The estimated number of years until an item no longer represents the least expensive method of performing its function.’
		+
		+	Other definitions of life include:

	* Design life.		* Design life.
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	* Service life.		* Service life.

−	= Related articles on Designing Buildings ~~Wiki~~ =	+	= Related articles on Designing Buildings =

	* Concept structural design of buildings.		* Concept structural design of buildings.

Designing Buildings at 09:54, 2 December 2020

2020-12-02T09:54:27Z

← Older revision		Revision as of 09:54, 2 December 2020
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	* End of life potential.		* End of life potential.
	* Fitness for purpose.		* Fitness for purpose.
		+	* Life.
	* Life cycle assessment.		* Life cycle assessment.
	* Service life.		* Service life.
	* Structures at the end of their design life.		* Structures at the end of their design life.
		+	* Useful life.
	* Utilising life cycle costing and life cycle assessment.		* Utilising life cycle costing and life cycle assessment.
	* Whole-life costs.		* Whole-life costs.

	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Standards_/_measurements]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]		[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Standards_/_measurements]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Designing Buildings at 08:46, 4 November 2020

2020-11-04T08:46:10Z

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	* Whole-life costs.		* Whole-life costs.

−	[[Category:~~Standards_/_measurements~~]] [[Category:~~DCN_Standard~~]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Standards_/_measurements]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Designing Buildings at 08:08, 13 October 2019

2019-10-13T08:08:03Z

← Older revision		Revision as of 08:08, 13 October 2019
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	* Technical life.		* Technical life.
	* Functional life.		* Functional life.
		+	* Service life.

−	~~= Find out more =~~	+	= Related articles on Designing Buildings Wiki =
−		+
−	=== Related articles on Designing Buildings Wiki ===	+

	* Concept structural design of buildings.		* Concept structural design of buildings.
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	* Fitness for purpose.		* Fitness for purpose.
	* Life cycle assessment.		* Life cycle assessment.
		+	* Service life.
	* Structures at the end of their design life.		* Structures at the end of their design life.
	* Utilising life cycle costing and life cycle assessment.		* Utilising life cycle costing and life cycle assessment.
	* Whole-life costs.		* Whole-life costs.

−	[[Category:Standards_/_measurements]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]	+	[[Category:Standards_/_measurements]] [[Category:DCN_Standard]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Designing Buildings at 08:11, 26 September 2018

2018-09-26T08:11:04Z

← Older revision		Revision as of 08:11, 26 September 2018
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	Economic life may be a key consideration of owners, particularly if they are managing the an asset from which they wish to ensure an adequate return on the investment they have made by purchasing or building it and operating it.		Economic life may be a key consideration of owners, particularly if they are managing the an asset from which they wish to ensure an adequate return on the investment they have made by purchasing or building it and operating it.
		+
		+	However, as there is no general legally-agreed definition of economic life, if it is to be included in contract documentation as a performance requirement, it is important that it is carefully defined within those contract documents and that it is consistent with all other requirements in the contract documents.

	Other definitions include:		Other definitions include:

Designing Buildings at 14:10, 23 March 2018

2018-03-23T14:10:37Z

← Older revision		Revision as of 14:10, 23 March 2018
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−	Several definitions have been developed to assess the life of buildings and their components, from the perspective of different stakeholders.	+	Several definitions have been developed to assess or specify the life of buildings, structures and their components, from the perspective of different stakeholders.

−	Economic life refers to the amount of time ~~a building or structure~~ is in service before its replacement is more advantageous economically than the continued maintenance that will be required to keep it in service.	+	Economic life refers to the amount of time an element is in service before its replacement is more advantageous economically than the continued maintenance that will be required to keep it in service.

−	Economic life may be ~~the main~~ consideration of ~~the building owner~~, particularly if they are managing the ~~building as~~ an asset from which they wish to ensure an adequate return on the investment they have made by purchasing or building it and operating it.	+	Economic life may be a key consideration of owners, particularly if they are managing the an asset from which they wish to ensure an adequate return on the investment they have made by purchasing or building it and operating it.

	Other definitions include:		Other definitions include:

Designing Buildings at 13:53, 23 March 2018

2018-03-23T13:53:24Z

← Older revision		Revision as of 13:53, 23 March 2018
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−	Several definitions have been developed to assess the ~~lifetime performance~~ of buildings, from the perspective of different stakeholders ~~who have an interest~~.	+	Several definitions have been developed to assess the life of buildings and their components, from the perspective of different stakeholders.

	Economic life refers to the amount of time a building or structure is in service before its replacement is more advantageous economically than the continued maintenance that will be required to keep it in service.		Economic life refers to the amount of time a building or structure is in service before its replacement is more advantageous economically than the continued maintenance that will be required to keep it in service.

−	Economic life may be the main consideration of the building owner, particularly if they are managing the building as an asset from which they wish to ensure an adequate return on the investment made by purchasing or building it.	+	Economic life may be the main consideration of the building owner, particularly if they are managing the building as an asset from which they wish to ensure an adequate return on the investment they have made by purchasing or building it and operating it.

	Other definitions include:		Other definitions include:

Editor: Created page with "Several definitions have been developed to assess the lifetime performance of buildings, from the perspective of different stakeholders who have an interest. Economic life refer..."

2018-03-15T15:34:53Z

Created page with "Several definitions have been developed to assess the lifetime performance of buildings, from the perspective of different stakeholders who have an interest. Economic life refer..."

New page

Several definitions have been developed to assess the lifetime performance of buildings, from the perspective of different stakeholders who have an interest.

Economic life refers to the amount of time a building or structure is in service before its replacement is more advantageous economically than the continued maintenance that will be required to keep it in service.

Economic life may be the main consideration of the building owner, particularly if they are managing the building as an asset from which they wish to ensure an adequate return on the investment made by purchasing or building it.

Other definitions include:

* Design life.
* Required life.
* Technical life.
* Functional life.

= Find out more =

=== Related articles on Designing Buildings Wiki ===

* Concept structural design of buildings.
* Decommissioning.
* Demolition.
* Design quality for buildings.
* End of life potential.
* Fitness for purpose.
* Life cycle assessment.
* Structures at the end of their design life.
* Utilising life cycle costing and life cycle assessment.
* Whole-life costs.

[[Category:Standards_/_measurements]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]