Tools, guidelines and standards for assessment of Life Cycle Cost (LCC) of built environment e.g. buildings, infrastructure assets etc. have gained impact over the past years. Owner and operator application of tools, guidelines and standards enhances optimization of operation and maintenance with due respect to their budgets. In order to aid owners, operators and their designers, a task group under fib has been established to prepare a state-of-the-art report regarding LCC analyses of concrete assets. The state-of-the-art report contains a description of existing LCC standards and guidelines, their applicability, the definition of different cost elements, and the treatment of uncertain information in a reliability or risk based framework, etc. providing the reader with background information and methodology for preparation of such analysis. Moreover, the report contains case studies, presenting the applicability of the LCC analysis methodology.