Introduction  Life Cycle Asset management （LCAM） enables an organization to improve their asset potential or actual value. In order to ensure the optimization of the asset life cycle cost， and to accurately analyze the asset life cycle cost（LCC），it is necessary to quantify the LCC and establish a operable method for accumulate and apportion the LCC^［1］.

  Method  By analysing the direct cost， indirect cost and other related cost in the whole life cycle of the asset equipment， we standardized the accumulation and approtionment process of the asset LCC， and optimized the composition of the asset LCC.

  Result  By optimizing the accumulation and approtionment method， the whole LCC of equipment can be calculated.

  Conclusion  It provides aided decision-making for power system planning and design， technical and economic comparison of investment projects， equipment procurement， LCAM evaluation， and promotes the practice of LCAM.