Lifecycle management is an important part of modern maintenance in the process industry. However, there are few standards and sample calculations for managing life cycle costs, that directly guide cost calculations for maintenance needs, such as cost comparisons between device retention and replacement. For this reason, there is a need to examine available life cycle cost standards, mainly designed for investment, and to determine their suitability for maintenance purposes. In response to this questioning, this study has investigated the topic and investigated general life cycle costing standards and their applicability for maintenance purposes, through practical calculation examples. The work will support the learning of maintenance organizations in this area. The need to develop further accounting standards for maintenance needs was identified. As an example, the cost types used in the standards generally do not directly correspond to the general cost types recorded in maintenance systems. It was also noted that detailed calculation and utilization of generic standards requires collaboration with economic and procurement organizations, to make available and enable inclusion of all the necessary cost parameters typically found in the applicable standards instructing life cycle cost calculations. On the positive side, easy-to-apply life cycle cost calculation standards were found, which enable simplified lifecycle cost calculations, also for the purposes of maintenance management. This work consists of literature research and example calculations.