A to Z Engineering Services, LLC

Courses

LIFE CYCLE COST

About the course

Instruct the participant on the asset cost-of-life methodology as a tool for evaluating projects from inception to disposal of assets, including low reliability and maintenance related costs incurred during the operation phase. .

Designed For

Professionals, technicians, analysts, estimators, maintenance supervisors, operations and infrastructure personnel and planners with vision of change and improvement in their own performance and environment.

You will learn

At the end of this course the participant will be able to apply the different evaluation models to make assets or options compared with different expected lives, evaluate replacements of existing assets, with their respective penalties.

Course Content

  • Introduction
  • Basics
  • Phases of a project
  • LCC as engineering tool
  • LCC as management tool
    • When to buy a new asset
    • Decision making among different alternatives
    • Monte Carlo simulation
    • Economic life of an asset vs. time value of money
    • Economic life of an asset vs. asset aging
    • Performance monitoring (operation phase)
    • Asset repair vs. replacement
  • Models Cost of life cycle.
  • Life cycle Cost Assessment models
  • Engineering economic
  • Mathematical financial
  • Indicators economic & financial
  • Life cycle cost methodologies
  • Projects evaluation
  • Projects maintenance evaluation
  • Obsolescence evaluation
  • Evaluation between different projects
  • Evaluating the economic limit of a project
  • Reliability within an asset’s lifecycle cost analysis
  • Reliability systems
  • Management risk
  • Uncertainty management
  • Monte Carlo Simulation
  • Evaluation risk
  • Decision making
Course details
  • Multi-Discipline Training/ Maintenance Planning and Scheduling
  • Basic
  • All the personnel in different levels of an organization