- Project plans
- Project activities
- Legislation and standards
- Industry context
Last edited 13 Oct 2019
Economic life of a building
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 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:
 Related articles on Designing Buildings Wiki
Featured articles and news
Tapping technology to boost infrastructure and create jobs.
4 ways to ensure certificates are valid.
White elephant construction projects.
How Paul Williams bent over backwards to overcome racial barriers.
Organisation revises actions around dealing with COVID-19.
CIOB, NFCC, RIBA, RICS call for changes ahead of Building Safety Bill.
Developments in the Future Homes Standard.
An American chimney feature with a colourful past.
Homes based on need, not ability to pay.
Historic England adds 216 entries to the 'at risk' register.
Will cycling and walking provisions be preserved?
Assembly point levels range from relative to ultimate.
Signs are pointing to a recovery for the construction industry.
Campaigning to change perceptions about American Brutalism.