The article describes and analyzes specific approaches to calculation of life cycle costing (LCC) as a part of Life-cycle Cost Analysis (LCCA). LCCA is an approach to assessment the most cost-effective alternative in comparison to other alternatives when each of them is equally suited from a technical point of view. LCC includes the analysis of the cost over entire life of product (castings). Several specific approaches to calculation of life cycle costing and the differences between them are analyzed. The attention is paid especially to answering the question of what types of cost included in specific models are differ. Typical including costs are acquisition costs, design and development costs, cost of repairs, spares and failures, downtime cost, cost involved by loss of production, cost of maintenance and disposal costs. Differences are shown on the examples. At the end, an overview of the use of individual approaches is provided.Keywords: Life Cycle Costing, Lean Manufacturing, Waste Elimination, Process Manufacturing
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