Life Cycle Costing

The International Stainless Steel Forum has developed an easy to use card which explains briefly why a developer should consider using stainless steel and calculate the life cycle cost of a project to discover stainless steel is often a long-term cost-effective solution.

Stainless steel is often seen as an expensive material and therefore not considered for a project due to the initial purchasing cost. Although the initial cost of the stainless steel material may be higher, the whole life cycle cost is often lower than for other materials. A whole life cycle costing calculation should include materials, fabrication, installation, operation, maintenance, down time, replacement due to wear and residual value. A calculation formula is provided on the card.

In recent times, the City of Melbourne in Australia undertook a life cycle costing comparison between Carbon Steel and Stainless Steel for use for its street furniture. The products considered and manufactured included bins, seats, benches and drinking fountains.

In cooperation with the City of Melbourne, worldstainless has published the results of the life cycle costing study.