long run is more difficult because of market situation, fee changes, tax and inflation
changes and the influence of random factors. Uncertainty and risk of an incorrect cost
estimation may be also connected with the difficulty in the estimation as the costs
should be estimated based on experience. Therefore, it is very important to gather all
data on expenses and to apply the right model (Durairaj; EIC 60300-3-3). In order to
reduce the risk associated with qualitative estimation it is advisable to perform
sensitivity analysis. Based on this analysis it is possible to determine the variation in the
results of cost analysis in life cycle. The authors (Banatinene et al 2008; Zavadskas et
al. 2001) have a different approach and pay attention to multi-criteria analysis which
allows to include in the account both qualitative and quantitative criteria which have an
influence on LCC while choosing alternative variants based on this enormous amount of
information.