What is typically included in a whole-life cost assessment?

A whole-life cost assessment is a comprehensive evaluation that takes into account all costs associated with an asset throughout its entire lifecycle. This includes not just the initial purchase price, but also the costs incurred during its usage phase, such as operation, maintenance, repair, and potential upgrades. Additionally, it encompasses costs associated with the asset's disposal at the end of its life.

By including these various cost aspects, a whole-life cost assessment allows organizations to make more informed decisions regarding asset acquisition and management. It provides a clearer picture of the total financial impact of an asset, rather than focusing narrowly on upfront expenses. This holistic approach can lead to better long-term planning and financial efficiency.

The other options focus on narrower or different aspects that do not encompass the entirety of costs associated with an asset over its lifetime. For instance, only considering the purchase price ignores operational and future expenditures. Anticipating future revenues does not fit within a cost assessment framework since costs and revenues operate on different axes of financial analysis. Compliance with ethical supplier practices, while important, is not part of the cost analysis itself but rather a governance or compliance consideration.