This presentation describes LIFE, a tool for evaluating and predicting the costs of managing a digital object over its full lifecycle. It was given as part of module 2 of a 5-module course on digital preservation tools for repository managers, presented by the JISC KeepIt project. For more on this and other presentations in this course look for the tag 'KeepIt course' in the project blog http://blogs.ecs.soton.ac.uk/keepit/