Life Cycle Costing for Engineers  book cover
1st Edition

Life Cycle Costing for Engineers

ISBN 9781439816882
Published October 26, 2009 by CRC Press
222 Pages 15 B/W Illustrations

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Book Description

Cradle-to-grave analyses are becoming the norm, as an increasing amount of corporations and government agencies are basing their procurement decisions not only on initial costs but also on life cycle costs. And while life cycle costing has been covered in journals and conference proceedings, few, if any, books have gathered this information into an easily accessible resource. Eliminating the need to consult many different sources, Life Cycle Costing for Engineers brings together up-to-date life cycle costing concepts and explains their application in various industrial sectors.

The author sets the scene with a chapter on fundamental economics followed by a chapter on reliability and maintainability, providing background information and platform for further understanding. He then discusses life cycle costing fundamentals, models and estimation methods, reliability, quality, safety, and manufacturing costing, and maintenance, maintainability, usability, and warranty costing. The book includes life cycle costing for computer systems and software, transportation systems, aircraft turbine engines, cargo ships, rail systems, civil engineering structures, and energy systems. An in-depth look at cost estimation models and engineering reliability and maintainability topics such as bathtub hazard rate curve, common reliability networks, general reliability, mean time to failure, and hazard rate formulas round out the coverage.

Filled with examples, tables, figures, and equations, this book integrates life cycle costing concepts for use in industrial and other sectors. It provides a modern treatment of the subject that can easily be applied to any industry.

Table of Contents

Terms and Definitions
Useful Information on Life Cycle Costing
Scope of the Book
Life Cycle Costing Economics
Simple Interest
Compound Interest
Effective Annual Interest Rate
Time-Dependent Formulas for Application in Life Cycle Cost Analysis
Depreciation Methods
Life Cycle Costing Fundamentals
Need and Information Required for Life Cycle Costing
Life Cycle Costing Application Areas
Life Cycle Costing Activities and Associated Steps
Approach for Incorporating Life Cycle Costing into the Planning Process for Proposals and Contracts
Areas for Evaluating a Life Cycle Costing Program
Life Cycle Costing Data Sources
Life Cycle Costing Advantages and Disadvantages and Related Important Points
Life Cycle Costing Concept Application in Selecting Equipment from Competing Manufacturers
Life Cycle Cost Models and Cost Estimation Methods
Types of Life Cycle Cost Models and Their Inputs
General Life Cycle Cost Models
Specific Life Cycle Cost Models
Cost Estimation Methods
Reliability, Quality, Safety, and Manufacturing Costing
Reliability Cost Classifications
Models for Estimating Costs of Reliability-Related Tasks
Quality Cost Classifications and Their Distribution in the Industrial Sector
Quality Cost Indexes and Quality Cost Reduction Approach
Safety Cost and Its Related Facts and Figures
Safety Cost Estimation Models
Manufacturing Costs
Manufacturing Cost Estimation Models
Maintenance, Maintainability, Usability, and Warranty Costing
Reasons for Maintenance Costing, Factors Influencing Maintenance Cost, and Types of Maintenance Costs
Equipment Maintenance Cost
Preventive and Corrective Maintenance Labor Cost Estimation
Repair Manpower, Maintenance Material, and Spare and Repair Parts Costs
Maintenance Cost Estimation Models
Maintenance Cost Data Collection
Maintainability Investment Cost Elements
Manufacturer Warranty and Reliability Improvement Warranty Costs
Usability Costing and Related Facts and Figures
Principal Costs of Ignoring Product Usability and Product Usability Cost Estimation
Computer System Life Cycle Costing
Computer System Life Cycle Cost Models
Computer System Maintenance Cost
Software Costing and Related Difficulties
Software Life Cycle Cost Influencing Factors and Model
Software Cost Estimation Methods and Models
Transportation System Life Cycle Costing
Aircraft Life Cycle Cost
Aircraft Turbine Engine Life Cycle Cost
Aircraft Cost Drivers
Cargo Ship Life Cycle Cost
Operating and Support Costs for Ships
Urban Rail Life Cycle Cost
Car Life Cycle Cost
City Bus Life Cycle Cost Estimation Model
Civil Engineering Structures and Energy Systems Life Cycle Costing
Building Life Cycle Cost
Steel Structure Life Cycle Cost
Bridge and Waste Treatment Facilities Life Cycle Costs
Building Energy Cost Estimation
Appliance Life Cycle Costing
Energy System Life Cycle Cost Estimation Model
Motor, Pump, and Circuit-Breaker Life Cycle Costs
Miscellaneous Cost Estimation Models
Plant Cost Estimation Model
Reliability Acquisition Cost Estimation Model
Development Cost Estimation Model
Program Error Cost Estimation Model
Cooling Tower Cost Estimation Model
Storage Tank Cost Estimation Model
Pressure Vessel Cost Estimation Model
New Aircraft System Spares Cost Estimation Model
Satellite Procurement Cost Estimation Model
Single-Satellite System Launch Cost Estimation Model
Tank Gun System Life Cycle Cost Estimation Model
Weather Radar Life Cycle Cost Estimation Model
Introduction to Engineering Reliability and Maintainability
Reliability and Maintainability Definitions
Bathtub Hazard Rate Curve
General Reliability, Mean Time to Failure, and Hazard Rate Formulas
Common Reliability Networks
Reliability and Maintainability Relationship
Maintainability Measures
System Availability and Unavailability
Reliability and Maintainability Tools
Bibliography: Literature on Life Cycle Costing

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B.S. Dhillon is a professor in the Department of Mechanical Engineering at the University of Ottawa.


"… very concise, quite short, and easy to follow. … The text is nicely supported with figures, equations and example problems. … I would recommend it as a great source for a wide range of life cycle cost models and especially as a source to understand and be able to relate one model to another. It would make an ideal textbook for an undergraduate course on life cycle costing and as a resource for a practitioner in the industrial/manufacturing industry that needs a suite of potential life cycle cost models with which to make capital equipment and facility spending decisions on a life cycle cost basis."
—Professor Douglas Gransberg, University of Oklahoma