Applied Life Cycle Cost Analysis (Lcc)

Part of Life Cycle Management course

What you'll learn

Comprehensive Life Cycle Cost (LCC) Analysis

Application of LCC in Decision-Making

LCC Modeling and Sensitivity Analysis

Integration of RAM and ILS with LCC

Requirements

No prior knowledge is needed.

Description

This mockup is part of the Life Cycle Management course package, which aims to provide professionals with a comprehensive understanding of managing the total cost and performance of systems or products throughout their lifecycle. The course is grounded in key areas such as Life Cycle Cost (LCC) analysis. It equips participants with the skills necessary to make informed decisions that minimize costs, improve system reliability, and ensure long-term operational effectiveness.The course covers both theoretical concepts and practical applications, enabling participants to develop and refine their expertise in lifecycle management. Through real-world case studies, mock assignments, and practical exercises—like the mockup provided here—learners will gain hands-on experience. This mockup, in particular, challenges participants to apply LCC principles in a decision-making process, such as selecting a cost-effective motor for a fighter jet, by evaluating factors like acquisition costs, reliability, and maintenance needs.Assignments like these are crucial to the course because they allow participants to:Build and analyze LCC models to understand long-term cost implications.Perform sensitivity analysis to assess the impact of uncertainties.Make strategic recommendations based on data-driven insights.As part of the larger Life Cycle Management course package, this mockup and other exercises are designed to provide a solid foundation in lifecycle management. Whether you are selecting components for procurement, optimizing maintenance plans, or managing system upgrades, the knowledge gained through this course will enable you to make effective decisions that balance cost, performance, and reliability over the product’s entire lifecycle.By the end of the course, participants will be equipped to reduce total lifecycle costs, improve operational outcomes, and contribute to the strategic success of their organizations.

Overview

Section 1: Mockup 1: Applied Life Cycle Cost Analysis (LCC) - Introduction

Lecture 1 Introduction

Section 2: Mockup 1: Applied Life Cycle Cost Analysis (LCC) - LCC modeling

Lecture 2 LCC modeling

Section 3: Mockup 1: Applied Life Cycle Cost Analysis (LCC) - Case study

Lecture 3 Case study

Section 4: Quiz and Reading time!

Lecture 4 Reading - LCCbased approach for design and requirement specifcation for railway

Section 5: Assignment - Selecting the Most Cost-Effective Motor for a Fighter Jet

Section 6: Mockup 1: Applied Life Cycle Cost Analysis (LCC) - Guidelines and summery

Lecture 5 Guidelines and summery

This course is designed for beginners in the field of Life Cycle Cost (LCC) analysis and related areas such as Integrated Logistics Support (ILS) and Reliability, Availability, Maintainability (RAM). It is ideal for:,New professionals entering roles in industries like transportation, infrastructure, and engineering, who need to understand LCC as a tool for optimizing costs over the lifespan of products and systems.,Procurement and project managers who are new to LCC and want to make informed, cost-effective decisions for procurement, maintenance, and system development.,Individuals with no prior experience in LCC but with a keen interest in learning how it can be applied to improve cost efficiency, reliability, and operational performance across various industries.,This course provides the essential tools, concepts, and practical insights to help beginners get started in the area of LCC.