An holistic view of enterprise level costs related to one particular subject, good or service. Its objective is to account for all costs from acquisition to use / operations and maintenance entailed throughout the entire value chain of the company. It contrasts with the purchase price because it strives to include the cost of quality (e.g. rework) and thus increase cost transparency. It may be applied to internal (e.g. IT) or external activities (e.g. suppliers).