This report deals with a preliminary investigation of the problems associated with the determination of the total life costs of buildings, including cyclical renewal. It discusses also the benefits to be derived from this information, using life costs of a selected building as an example. The first portion of the publication considers problems in calculating life costs, a study of life costs of a particular university building, and the life cost-building system relationship. The second part of the document gives the scope and definition of cyclical renewal and then examines the renovations, alterations, equipment, and furniture components of cyclical renewal. Included in the appendixes are a proposal for study of life costs, a computer program for life cost projections, an index for maintenance and operating costs, the relationship between capital investment and discounted annual savings, data used, a glossary of terms, and a bibliography. (Author/DN)