What is the difference between ‘Whole Life Costs’ and the through life costs in a TLMP cost record?
The two terms refer to the same concept, but can mean different things. The easy way to remember the difference is: Whole Life Costing (WLC) is the generic process of forecasting, recording and managing the cost of a project through life and can be carried out in many ways. The TLMP cost record has been established to cost TLMPs in a consistent manner. If costs are expressed as a Whole Life Costs it is necessary to explain the exact meaning and coverage. When a TLMP cost record has been prepared in accordance with TLF guidance it indicates that costings have been produced in a certain way, covering the full acquisition cycle and addressing all Lines of Development that comprise the capability (ie costing the TLMP).
