Abstract
Total cost management (TCM) techniques that take into account the life-cycle of capital projects were described. The capital project life cycle involves four steps. These are identification, development, execution and operation and maintenance. On the other hand, a successful TCM effort includes several factors. These include a life-cycle view of situations, knowledge of factors that affect cost, cost impact of events, use of available cost management tools, forecasting of trends and a plan for implementing life-cycle cost management.