Life Cycle Cost Analysis

The LCC Module can calculate your systems’ life cycle costs

What is Life Cycle Cost Analysis?

Life Cycle Cost Analysis is a technique for calculating the whole life cost of a plant of system from inception to disposal. It can be used in any industry; the system involved could be a building, a ship, a weapons system or a power plant.

Whatever the system, the methodology will be the same. Costs will be defined throughout the life of the system as mathematical equations. A simple example might be the number of man-hours multiplied by the cost rate.

All the costs in the system will be summated to provide a whole life cycle cost.

Using the LCC Module in Availability Workbench

The Life Cycle Cost Module in Availability Workbench allows you to build a hierarchical cost breakdown structure (CBS) with an unlimited number of levels. This may be directly linked to results obtained in the RCMCost and AvSim Modules.

Other costs may be defined as time-dependent equations or simple numeric values. Global variables can be utilized in the cost equations. Phase dependent costs can also be defined, these are shared with the AvSim Module.

The LCC Module allows you to account for costs other than those predicted in the RCMCost and AvSim modules and hence provide a complete life cycle cost for your system.

The Life Cycle Cost Module of Availability Workbench can

Evaluate complete life cycle costs

Extend RCMCost and AvSim results

Provide a customizable system of defining costs

Availability Workbench and availability simulation and reliability centered maintenance