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During the evaluation of the seismic retrofitting option for risk reduction/mitigation measures to be applied over buildings, Benefit Cost Analysis is an often-used method. During this study of Benefit Cost Analysis, the condition that the earthquake can happen just after or sometime after retrofitting will be taken into consideration rather than some approaches that focus on the benefits and costs regarding the annual probability of the occurrence for possible earthquakes. The analysis will use conditional probability such that the earthquake will be assumed to occur at different periods of time (5, 10, 20 years etc.) after the mitigation measures are taken so that benefit-cost ratios and net social benefits can be observed over time using the results at these periods. Also during this study the indirect effects of earthquake such as business disruption, social disturbance will also be taken into consideration. As a final step, it is aimed to conclude with convincing financial results regarding the direct and indirect effects of the earthquake in terms of benefits and costs to encourage people and the public officials to reduce the potential vulnerability of the housing units people live by taking the necessary precautions against the earthquake.

This Master‘s thesis is focused on cost analyses and cost management in FEI Company. Theoretical part describes basic and advanced cost model and their usage for efficient cost management. Practical part deals with analyses of calculation method for standard costing and life cycle costing. As a part of these analyses, some recommendations are provided to make cost calculations more accurate.