New Generation Whole-Life Costing presents an innovative approach to decision-making and risk management for construction and real estate. It applies the options-based approach that has revolutionized the management of uncertainty in the business world. Based on government-sponsored research at Cambridge Architectural Research Ltd., the book introduces the idea of 'lifecycle options'.

The desirability of whole-life costing is widely accepted, but take-up levels have been low. One problem is that traditional techniques fail to take account of future uncertainty. In contrast,...