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    Best practices in the cost engineering of through-life engineering services in Life Cycle Costing (LCC) and Design To Cost (DTC)

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    Authors
    Baguley, Paul
    Issue Date
    2020-04-30
    Subjects
    Cost Modelling
    
    Metadata
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    Other Titles
    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: Springer
    Publisher
    Springer
    URI
    http://hdl.handle.net/10547/623968
    DOI
    10.1007/978-3-319-49938-3_17
    Additional Links
    https://link.springer.com/chapter/10.1007/978-3-319-49938-3_17
    Type
    Book chapter
    Language
    en
    ISBN
    9783319499376
    Sponsors
    Northrop Grumman Sperry Marine
    ae974a485f413a2113503eed53cd6c53
    10.1007/978-3-319-49938-3_17
    Scopus Count
    Collections
    Business and management

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