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Whole Life Costs

What is Whole Life Cost?

“Cheap manhole covers are very expensive!!”

Whole-life cost refers to the total cost of ownership over the life of an asset.

Value for money is the optimum combination of whole-life cost and quality to meet the user’s requirement. This means that awarding contracts and/or making purchasing decisions purely on the basis of lowest price is rarely value for money; long-term value over the life of the asset is a much more reliable indicator. It is the relationship between long-term costs and the benefit achieved by clients that represents value for money.

Whole-life cost is most commonly used for:

  • Option evaluation when procuring new assets
  • Decision-making to minimize whole-life costs throughout the life of an asset
  • Comparison of actual costs for similar asset types
  • Feedback into future design and acquisition decisions

The primary benefit of whole-life costing is costs which occur after an asset has been constructed or acquired, such as maintenance, operation, disposal, become an important consideration in decision-making. Previously, the focus has been on the up-front capital costs of creation or acquisition, and organizations may have failed to take account of the longer-term costs of an asset.

Whole-life costing is a key component in any economic appraisal associated with evaluating asset acquisition proposals. An economic appraisal is generally a broader based assessment, considering benefits and indirect or intangible costs as well as direct costs.

Historically, asset investments have been based on expedient design and lowest cost construction. If such investment has been made without proper analysis of the standard of service required and the maintenance and intervention options available, the initial saving may result in increased expenditure throughout the asset’s life.

By using whole-life costs, this avoids issues with decisions being made based on the short-term costs of design and construction. Often the longer-term maintenance and operation costs can be a significant proportion of the whole-life cost.

Our conclusion, which we are sure you will agree, “Cheap manhole covers are very expensive!!”

15 Year Product Guarantee

At Mway Pro we believe we have the most effective cost solution for the manhole cover market, whatever grade of cover the customer requires. This belief is backed by our 15 year Product Guarantee, giving you added confidence that you are buying a quality product.

If the current manhole cover you are purchasing does not give the assurance of a minimum 15 year life, the additional installation costs of replacement covers will offset any short term savings gained buying a cheap solution.

Purchasing our advanced composite manhole covers will save you money.

We have provided a brief “Whole Life cost summary” for your review based on the study undertaken by Lancaster University specifically for the manhole cover market.