A procurement manager is sourcing some high-value equipment for their organisation.

Whole-life costing includes all costs from acquisition to disposal, ensuring comprehensive financial planning. Essential components include:

Acquisition and purchase costs: Initial costs incurred to procure the equipment.

Usage costs: Operational expenses, including energy and consumables.

End-of-life costs: Disposal, recycling, or decommissioning expenses.

Whole-life asset management aims to minimize these costs over an asset's lifecycle, ensuring value and performance.