Which term is used to considers the total cost of ownership, or develpment plus support costs, for a project?

The correct answer to this question is life cycle costing. Also known as whole-life costing, life cycle costing is the process in which the amount of money spent on an asset over a lifetime is estimated. These costs are calculated from the time the asset is purchased until it is disposed of.

Examples of assets include stock, bonds, land, and mortgages. Asset costs go beyond the original price of it. For a home, there are many costs including such as maintenance to the home, electricity and water bills. Life cycle costsing can be calculated by estimating expenses such as the purchase, maitenance, and the disposal.