This document presents a dissertation submitted by Md. Khurshid Alam to the Department of Mechanical Engineering at Al-Falah University in partial fulfillment of the requirements for a Master of Technology degree in Thermal Engineering. The dissertation analyzes the life cycle of split and multi-split variable refrigerant flow air conditioning systems through a case study. It includes chapters on the introduction, literature review, methodology, life cycle analysis and references. Tables and figures presented include component lists, schematics of VRF systems, load calculations, and economic analyses. The aim is to design an energy efficient and cost effective HVAC system for a building through life cycle analysis of VRF options.