VR/AR Technologies in Cost Management Throughout the Product Life Cycle Stages

The contribution provides an overview of the possibilities of virtual (VR) and augmented reality (AR) technologies in the context of cost management at various stages of the product life cycle. Cost management throughout the life cycle of a product (LCC, Life Cycle Costing) is an approach to assessing and managing costs throughout the entire life cycle of a product, from its creation to its retirement. This approach allows the consideration of all expenses associated with the product, including costs for design, production, operation, maintenance, and disposal. The work visually presents the stages of the complete product life cycle and its market life cycle, reflecting the overall dynamics of revenue, net profit, and loss typical for most newly created products introduced to the market. The contribution enables readers to understand how VR/AR technologies can influence and enhance cost management efficiency at each stage of the product life cycle. The research also addresses challenges that companies face when implementing VR/AR technologies, as well as the prospects for increased competitiveness and operational efficiency for enterprises adopting innovative digital tools.