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A framework for documenting and analyzing life-cycle costs using a simple network based representation

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Davis, Neil D., Jones, Jeffrey Alun and Warrington, Les (2003) A framework for documenting and analyzing life-cycle costs using a simple network based representation. In: 49th Annual Reliability and Maintainability Symposium, Tampa, Florida, 27-30 January 2003 pp. 232-236.

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Abstract

The introduction of high reliability systems combined with
new ways of operating complex systems, particularly in
aircraft design and operation has received much attention in
recent years. Some systems are now being introduced into
service, however, justifying such systems on a financial basis is difficult and may act to limit the rate of introduction on new products.

Conventional life cycle costing based on a hierarchical cost
breakdown structure is poor at recording and analysing the
cost implications of introducing new technologies that have
effects that span more than one phase in the life cycle. There is a risk that too much emphasis is put on ‘faith’ that a candidate technology will reduce cost because the cost analysis methods lack descriptive and analytical power.

We describe an approach to representing the costs associated
with introducing new technologies and evaluating their total
cost. Our aim was to facilitate the comparison of different
technological choices in new product development, with a
particular interest in how the perceived benefits of enhanced reliability systems can be shown in a way that is inclusive, objective and easy to understand.

Item Type:

Conference Item (Paper)

Subjects:

T Technology > TA Engineering (General). Civil engineering (General)

Divisions:

Faculty of Science > WMG (Formerly the Warwick Manufacturing Group)

Library of Congress Subject Headings (LCSH):

Life cycle costing -- Congresses, Cost effectiveness -- Congresses, Costs, Industrial -- Congresses, Avionics -- Congresses, New products -- Congresses

Official Date:

2003

Dates:

Date	Event
2003	Published

Page Range:

pp. 232-236

Status:

Not Peer Reviewed

Access rights to Published version:

Open Access

Is Part Of:

Annual Reliability and Maintainability Symposium, 2003 Proceedings, Tampa, Florida, 27-30 Jan 2003. Piscataway, New Jersey: IEEE, pp. 232-236.

Conference Paper Type:

Paper

Title of Event:

49th Annual Reliability and Maintainability Symposium

Type of Event:

Conference

Location of Event:

Tampa, Florida

Date(s) of Event:

27-30 January 2003

References:

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