TCO (Total Cost of Ownership): A term used in facilities management to refer to the total sum of expenses associated with owning and running a property over a period of time. This includes not only upfront purchase costs, but also long-term maintenance costs, operating expenses, and potential risks and liabilities, making it a valuable tool for decision makers when evaluating the value of a given property. With TCO, you have a comprehensive view of all the costs associated with ownership – helping you make smart, informed decisions that are both cost-effective and protect your bottom line.