What is the main focus of life cycle costing?

The main focus of life cycle costing is to: 1. estimate installation costs 2. consider installation costs when planning the project costs 3. consider operations and maintenance costs in making project decisions 4. estimate the cost of operations and maintenance Answer 3. consider operations and maintenance costs in making project decisions
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What is the cost of choosing one project and giving up another called?

The cost of choosing one project and giving up another is called: 1. sunk cost 2. fixed cost 3. opportunity cost 4. net present value (NPV) Answer 3. opportunity cost
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