Environmental Life Cycle Costing as a tool of cost management
Environmental Life Cycle Costing as a tool of cost management

Summary/Abstract: Life cycle costing, in the conventional meaning or in cost management practice, is often suitable for neither an assessment of the economic implications of a product life cycle nor modern and adequate management. The LCC approaches need to address the complete life cycle and be expanded to direct connection to other sustainability aspects, such as environmental and social. The main question is how costs and environmental aspects can be combined in a consistent way and help managers to run businesses in the sustainable way. The answer is Environmental Life Cycle Costing. This article presents the main goals, scopes and framework of Environmental Life Cycle Costing and its role, position and relation to Life Cycle Management. The main target of the article is to find answers to the question about the place of ELCC in cost management.

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