define and describe what you thought was worthy of your understanding in half a page, and then explain why you felt it was important

After reading chapter-4 (Life cycle costing) from the attached text book write a two page paper regarding what you thought was the most important concepts or methods or terms, and/or any other thing that you felt was worthy of your understanding.  Then define and describe what you thought was worthy of your understanding in half a page, and then explain why you felt it was important, how you will use it, and/or how important it is in project management processes and methodologies.