An holistic view of enterprise level costs related to one particular subject, good or service. Its objective is to account for all costs (i.e. spanning idea inception, development or acquisition, usage / operations and maintenance including warranty) 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 transparency on real cost. It may be applied to internal (e.g. IT) or external activities (e.g. suppliers).