Towards the optimum cost of ownership of switched-mode power supplies: Early stage cost management with life-cycle costing

2006 ◽  
Author(s):  
Frank Bescherer ◽  
Mika Sippola
Keyword(s):  
Life Cycle ◽  
Cost Management ◽  
Early Stage ◽  
Life Cycle Costing ◽  
Power Supplies ◽  
Cost Of Ownership ◽  
Switched Mode Power Supplies ◽  
Optimum Cost

scholarly journals Life cycle costing: evaluating its use in UK practice

2015 ◽  
Vol 33 (1) ◽  
pp. 73-87 ◽  
Author(s):  
Anthony Higham ◽  
Chris Fortune ◽  
Howard James
Keyword(s):  
Life Cycle ◽  
Built Environment ◽  
Construction Industry ◽  
Early Stage ◽  
Project Evaluation ◽  
Life Cycle Costing ◽  
Evaluation Tool ◽  
Structured Interviews ◽  
Content Type ◽  
The Uk

Purpose – The purpose of this paper is to establish the extent to which life cycle costing (LCC) is used as an early stage project evaluation tool by practitioners in the UK construction industry. The use of this evaluation tool has long been advocated by academics as a means of ensuring best value rather than lowest cost is a driver for business decisions related to potential built environment projects. Therefore there is a need to appraise its current uptake levels amongst built environment professionals and assess whether there are any barriers affecting its use in UK practice. Design/methodology/approach – Using a mixed methods approach, the authors present the findings from a survey of construction professionals located in the UK and the results from a series of follow up semi-structured interviews designed to further explore the factors found to affect the use of LCC in practice. Findings – The study shows that LCC is still not widely used by built environment professionals in the UK. The greatest inhibitor on the take up of the tool is the need of clients to budget on short-term horizons. Other factors such as a lack awareness of the tool by practitioners and clients, unreliability of data into the long term and the overriding need for commercially driven projects to achieve maximum return on investment continue to inhibit the widespread adoption of LCC as an early stage project evaluation tool. These findings have implications for the capability of the UK construction industry to deliver on its commitment to enhance the sustainability of the built environment. Originality/value – The paper offers insights into the current use of LCC and the factors affecting its use in the UK.

scholarly journals LIFE CYCLE COSTING IN CONSTRUCTION: CURRENT TRENDS AND EMERGING DIRECTIONS

2021 ◽  
Author(s):  
Anupa Manewa ◽  
◽  
Mohan Siriwardena ◽  
Christaline Wijekoon ◽  
◽  
...  
Keyword(s):  
Life Cycle ◽  
Life Cycle Costing ◽  
Current Status ◽  
Total Cost Of Ownership ◽  
Current Trends ◽  
Cost Of Ownership ◽  
Integrated Methodology ◽  
Construction Strategy ◽  
And Performance ◽  
The Uk

The current construction climate in the UK is moving forward with a much greater attention on cost certainty, sustainability and adoption of innovative technologies. The UK Construction Strategy 2025 provides a clear direction towards achieving such goals by 2025. Life Cycle Costing (LCC) is one of successful techniques for identifying the total cost of ownership in construction assets. Even though the technique has 50 years of history, the application and the diffusion of the technique within the construction domain is comparatively limited. Therefore, this study aims to investigate the evolution and current status of LCC within construction context through Bibliometric Analysis of journal publications indexed in Web of Science database (1970-2020). A series of Contents Analyses was performed and visualisation maps were generated via VOSviewer. The findings proved that LCC has been absorbed into construction in late 90’s and there is a continuous rise in the global uptake from 2013 onwards. With limited budgets and growing demand for sustainability, an integrated methodology linking LCC, Life Cycle Assessment and Performance optimisation is apparently the way forward for LCC.

Value Creation and Cost Management by Use of the New ISO 15663 Life Cycle Costing Standard

2021 ◽  
Author(s):  
Endre Willmann ◽  
Runar Østebø ◽  
Eduardo H. R. Montalvao
Keyword(s):  
Life Cycle ◽  
Decision Support ◽  
Value Creation ◽  
Life Cycle Cost ◽  
Net Present Value ◽  
Oil And Gas ◽  
Cost Management ◽  
Life Cycle Costing ◽  
Cycle Phase ◽  
Life Cycle Phase

Abstract The new edition of the ISO 15663 standard has been developed during the recent years and will strengthen the industry cost management for business value creation. This paper shows how such standardization can be used to further enhance and promote adoption of a common and consistent approach to life cycle costing in the offshore oil and gas industry. The new ISO 15663 edition maintains key principles from previous editions, but does also introduce an improved and revised management methodology for application of life cycle costing. The purpose is to provide decision support for selecting between alternative options (e.g., projects, operational and technical subject matters) across life cycle phases, also aligned with overall corporate business objectives such as HSE and sustainability. It also provides the means of identifying cost drivers and a framework for value optimization over the entire life of an asset. The international standard is providing an essential set of normative requirements on how to implement and apply the life cycle costing methodology and the decision criteria, supported by an exhaustive part of recommended practices. This includes the identification of common and specific contractual considerations for operators, contractors and vendors (e.g., complementary metrics besides expenditure, such as systems availability guarantee and risk-sharing clauses). It also includes the application in the life cycle phases of an asset, the techniques and data input, examples of application, and assessment and lessons learnt. Capital expenditure (CAPEX), operating expenditure (OPEX), revenue and lost revenue (LOSTREV) factors are addressed. The standard includes an unambiguous definition of the economic objectives of a project and application of the same business criteria when making major engineering decisions. The life cycle costing methodology is applicable to all asset decisions in any life cycle phase, but should be applied only when expected to add value for decision-support. The required extent of planning and management of the appropriate life cycle costing is depending on the magnitude of the costs involved, the potential value that can be created and the life cycle phase. This paper demonstrates how the new ISO 15663 can be utilized by providing new examples of life cycle costing, to give all participants in the process — oil and gas operators, contractors and vendors — an up-to-date and streamlined set of requirements and guidance, encouraging a fit for purpose application. The paper does also present unique key economic evaluation measures such as life cycle cost (LCC) and net present value (NPV).

Product Life Cycle Costing

2015 ◽  
Vol 816 ◽  
pp. 547-554 ◽  
Author(s):  
Jaroslava Kádárová ◽  
Ján Kobulnický ◽  
Katarína Teplicka
Keyword(s):  
Life Cycle ◽  
Product Life Cycle ◽  
New Technologies ◽  
Cost Management ◽  
Life Cycle Costing ◽  
Management Tool ◽  
Start Up ◽  
Production Calculation ◽  
Whole Life Cycle ◽  
The Relationship

Successful performance of a company and its ability to handle growing competition is dependent on its capacity of implementing new technologies and making use of new methods of management. This report aims at cost management tool that enables controlling of costs through the whole life-cycle. Life Cycle Costing allows us to look at the start-up costs and the costs associated with the cessation of production, after-sales services costs and other expenses not taken into account in planned or operational calculation, see them as one unit and thereby evaluate the effectiveness of the product. Before establishing a production, calculation of the life-cycle costs is based on various factors which can be found in this article as well as the division of costs within the scope of calculation. It contains an example of calculation and accurate illustrations of process-based models of life-cycle costing from different points of view brought by various authors dealing with this topic, the usage of costing and the relationship with other calculations that are component parts of a company’s strategic cost management.

Sign in / Sign up

Export Citation Format

Share Document