ABSTRACT
In project management, decisions need to be taken frequently. Making the best choice requires investigating and critically evaluating all options. In these decision-making processes, Life Cycle Cost Analysis (LCCA) plays a crucial role. Deciding to make or buy is a typical example. Project managers may use the make-or-buy analysis approach to assist them in selecting whether to produce a good or service in-house or contract it out to a third party. The LCCA is a useful tool that can aid in making a crucial make-or-buy decision. Also, LCCA may be quite helpful when examining a project's choice from an economic perspective. Another aspect where LCCA may be used is to evaluate the effects of project delays.
