Taranto Consultancy | Tools | Life Cycle Cost analysis

Introduction to tools
Failure Modes, Effects and Criticality Analysis
Reliability Centred Maintenance

Life Cycle Cost analysis
Discrete Event Simulation

Life Cycle Cost analysis

Life cycle costing is the process of economic analysis to assess the total cost of acquisition, ownership and disposal of a product. It can be applied to the whole life cycle of a product or to parts or combinations of different life cycle phases.

The primary objective of life cycle costing is to provide input to decision making in any or all phases of a product's lifecycle.

Life Cycle Cost Models are developed to support selection of alternative design solutions based on Net Present Value or other profit / cost drivers.

Common applications for Life Cycle Cost Analysis include:

Evaluation and comparison of alternative strategies for product use, operation , test, inspection, maintenance, etc.
Evaluation and comparison of different approaches for for replacement, rehabilitation / life-extension or retirement of aging facilities
Allocation of funds among the competing priorities for product development / improvement
Long-term financial planning The scope and depth of analysis is normally tailored to meet the demands and complexities (or lack of them) in individual situations

:: Read Case study: British Nuclear Group Trawsfynydd

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