Best practices in the cost engineering of through-life engineering services in Life Cycle Costing (LCC) and Design To Cost (DTC)
Authors
Baguley, PaulIssue Date
2020-04-30Subjects
Cost Modelling
Metadata
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Advances in Through-life Engineering Services.Abstract
This chapter defines a number of Cost Engineering challenges from industry and their potential best practice solutions as industry case studies and industry practices surveys completed during the previous 5 years. In particular Life Cycle Costing in the context of upgrade and revamp in the process industry and also an example of design for full life cycle target cost for the manufacturing industry. Life Cycle Costing of complex long life cycle facilities is exemplified by identification and development of a life cycle costing of oil refineries through a survey of 15 companies and full life cycle experts and a review of the literature. Life cycle costing practices and a standardised life cycle cost breakdown structure are identified. Design to full life cycle target cost practices have been identified in the development of a full life cycle cost estimating tool for marine radar systems. In particular a survey of 17 companies and a case study with a marine radar systems company has identified specific practices useful in developing products to full life cycle target cost. In planning for future Through Life Engineering Services it is proposed that the collection of cost data and the understanding of Cost Engineering practices is a potential competitive advantage.Citation
Baguley P (2017) 'Best practices in the cost engineering of through-life engineering services in Life Cycle Costing (LCC) and Design To Cost (DTC)', in Redding L., Roy R., Shaw A. (ed(s).). Advances in Through-life Engineering Services., , Cham: SpringerPublisher
SpringerAdditional Links
https://link.springer.com/chapter/10.1007/978-3-319-49938-3_17Type
Book chapterLanguage
enISBN
9783319499376Sponsors
Northrop Grumman Sperry Marineae974a485f413a2113503eed53cd6c53
10.1007/978-3-319-49938-3_17