Davis, Neil D., Jones, Jeffrey Alun, 1962- 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.

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