ISO 15686-5-2017 PDF

Full title and description

Buildings and constructed assets — Service life planning — Part 5: Life‑cycle costing. This International Standard gives principles, requirements and guidance for performing life‑cycle cost (LCC) analyses of buildings and constructed assets (new or existing), setting a common terminology and a consistent methodology for LCC so it can be used for comparison, decision making and benchmarking at project, portfolio or component level.

Abstract

ISO 15686‑5:2017 defines life‑cycle costing concepts, cost classification, the scope of costs to be included, treatment of uncertainty and discounting, guidance on data and reporting, and recommended procedures for applying LCC at different stages of the asset life cycle (planning, design, construction, in‑use and disposal). The standard supports transparent, comparable LCC studies to inform procurement, design choices and asset/facility management.

General information

• Status: Published (International Standard; edition 2, confirmed current after 5‑year review).
• Publication date: July 2017 (Edition 2, published 2017‑07; bibliographic records list 27 July 2017).
• Publisher: International Organization for Standardization (ISO).
• ICS / categories: 91.040.01 (Buildings).
• Edition / version: 2 (Second edition, 2017).
• Number of pages: 43 (official ISO page lists 43 pages).

Scope

Applies to life‑cycle costing for buildings and other constructed assets; it specifies principles, classification of costs, typical LCC analyses at different project stages, data requirements, and reporting formats. The standard is intended for analyses covering the entire life cycle or selected stages, and supports comparisons between alternatives and forecasting of future costs to inform strategic or detailed decisions.

Key topics and requirements

• Common terminology for costs (real vs nominal costs, life‑cycle cost, whole‑life cost, end‑of‑life costs, externalities, residual value).
• Principles and stages of LCC: purpose and scope, selection of cost items, time horizon and discounting, sensitivity and risk analysis.
• Classification of costs and guidance on which costs to include at project, system and component levels (construction, operation, maintenance, major repairs, disposal/residual value).
• Data requirements, sources and documentation practices to ensure transparency and comparability of studies.
• Recommended analysis approaches for different decision stages (strategic, design, in‑use, disposal) and for benchmarking and target setting.
• Guidance on dealing with uncertainties, externalities and optional inclusion of incomes or monetized environmental impacts.
• Reporting templates and statements of assumptions so results can be interpreted and reproduced.

Typical use and users

Used by building owners, asset and facility managers, cost consultants, designers and engineers, public procurers, life‑cycle analysts and researchers. Typical applications include comparing design alternatives, setting whole‑life cost targets during design, preparing LCC inputs to procurement and capital planning, and evaluating long‑term maintenance and replacement strategies.

Related standards

ISO 15686‑5 is part of the ISO 15686 service‑life planning family (see especially ISO 15686‑1:2011 — General principles and framework; ISO 15686‑2 — Service life prediction procedures; ISO 15686‑7 and ISO 15686‑8 for related guidance). It is often used alongside asset/AM standards such as ISO 55000 and facility management guidance (for example EN 15221), and with life‑cycle assessment standards where environmental externalities are monetized (ISO 14040/14044).

Keywords

Life‑cycle costing, LCC, whole‑life cost, service life planning, buildings, constructed assets, cost classification, discounting, residual value, asset management, facility management.

FAQ

Q: What is this standard?

A: ISO 15686‑5:2017 is the part of the ISO 15686 series that provides requirements and guidance for conducting life‑cycle cost (LCC) analyses of buildings and constructed assets.

Q: What does it cover?

A: It covers LCC principles, cost categories to include, time horizons, discounting (real/nominal), data needs, treatment of uncertainty and externalities, typical analyses at different life‑cycle stages, and reporting to ensure transparency and comparability.

Q: Who typically uses it?

A: Owners, asset and facility managers, cost and quantity surveyors, designers, procurers, policy makers and researchers performing economic appraisals of building options and whole‑life planning.

Q: Is it current or superseded?

A: The second edition was published in July 2017 and the ISO bibliographic record indicates the publication was reviewed and confirmed current in 2024; therefore ISO 15686‑5:2017 remains the current edition at the time of confirmation.

Q: Is it part of a series?

A: Yes — ISO 15686 is a multipart series on service life planning. Part 5 (this standard) complements Part 1 (general principles), Part 2 (service life prediction procedures), and other parts and technical reports in the 15686 family.

Q: What are the key keywords?

A: Life‑cycle costing (LCC), whole‑life cost (WLC), cost classification, discounting, residual value, service life planning, buildings, asset management.