Maintenance cost
ICMS: Global Consistency in Presenting Construction Life Cycle Costs and Carbon Emissions, 3rd edition, November 2021, published by the ICMS (International Cost Management Standard) Coalition, defines maintenance cost as: ‘The total cost of labour, material and other related costs to retain a Constructed Asset or its parts so that it can perform its required functions (ISO 15686-5). Maintenance includes conducting corrective, responsive and preventative maintenance on a Constructed Asset or its parts and all associated management, cleaning, services, repainting, repairing or replacing of parts as needed for the Constructed Asset to be used for its intended purpose. It does not include Renewal Costs.’
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