1.85 Lifecycle Costs represent the investment incurred, on an ongoing and/or periodic basis during the course of the Contract Period, to maintain an asset so that it remains fit for its intended purpose. In theory, Lifecycle Costs should be invested at a rate and frequency that enables an asset to be maintained to the same standard as that achieved on its construction, refurbishment and/or procurement. Where the Contract Period equals the estimated life of the asset (as might be the case, for example, for equipment), then the Lifecycle Costs will represent the level and profile of investment required to assure the quality and functionality of the asset up to the end of the Contract Period. In the Spreadsheet Lifecycle Costs are incurred with effect from the first year following the end of the construction period.