If necessary, start on a component or project basis first. If your organisation has not used life cycle costing techniques in the past, it might be better to start on a simple project basis first. For example, you could start on modelling the replacement costs of the components of the property which are most commonly replaced: roofs, doors, windows, heating systems, bathrooms and kitchens, security, etc.
Alternatively, the minimum action which could be taken across an entire organisation might be to address the issue of component failure.
Examples of how individual housing organisations in the UK have taken steps to introduce LIfe Cycle Costing
Optima Community Association are currently looking at life cycle costing on a project specific basis however they are moving towards whole stock evaluation using a value engineering approach.
West Wiltshire HS started applying life cycle costing principles to their planned maintenance and refurbishment programme on the transfer of 3500 units in March 2001. They are now looking to standardise components and mechanisms across their new-build programme and so to encompass their whole stock.