A study of life cycle costing in the perspectives of research and commercial applications in the 21st century

Wai M. Cheung; Linda B. Newnes; Antony R. Mileham; Robert Marsh; John D. Lanham

doi:10.1115/DETC2007-34425

A study of life cycle costing in the perspectives of research and commercial applications in the 21^st century

Wai M. Cheung, Linda B. Newnes, Antony R. Mileham, Robert Marsh, John D. Lanham

Department of Mechanical Engineering

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

10 Citations (Scopus)

Abstract

This paper presents a review of research in the area of life cycle costing and offers a critique of current commercial cost estimation systems. The focus of the review is on relevant academic research on life cycle cost from 2000 onwards. In addition to this a comparison of the current cost estimation systems is presented. Using the review findings and industrial investigations as a base, a set of mathematical representations for design and manufacturing costs and the introduction of the critical factors is proposed. These are considered in terms of the operational, maintenance and disposal costs to create a method for ascertaining the life cycle cost estimate for complex products. This is presented using as an exemplar, research currently being undertaken in the area of low volume and long life electronic products in the UK defence sector. The benefit of the method proposed is that it aims to avoid the inflexibility of traditional approaches which usually require historical and legacy data to support the cost estimation processes.

Original language	English
Title of host publication	2007 Proceedings of the ASME International Design Engineering Technical Conferences and Computers and Information in Engineering Conference, DETC2007
Subtitle of host publication	Volume 4
Pages	721-730
Number of pages	10
ISBN (Electronic)	0791838064
DOIs	https://doi.org/10.1115/DETC2007-34425
Publication status	Published - 13 Jun 2008
Event	ASME/IEEE International Conference on Mechatronic and Embedded Systems and Applications, presented at - 2007 ASME International Design Engineering Technical Conferences and Computers and Information in Engineering Conference, IDETC/CIE2007 - Las Vegas, NV, USA United States Duration: 4 Sep 2007 → 7 Sep 2007

Conference

Conference	ASME/IEEE International Conference on Mechatronic and Embedded Systems and Applications, presented at - 2007 ASME International Design Engineering Technical Conferences and Computers and Information in Engineering Conference, IDETC/CIE2007
Country	USA United States
City	Las Vegas, NV
Period	4/09/07 → 7/09/07

ASJC Scopus subject areas

Computer Graphics and Computer-Aided Design
Computer Science Applications
Mechanical Engineering
Modelling and Simulation

Cite this

Cheung, W. M., Newnes, L. B., Mileham, A. R., Marsh, R., & Lanham, J. D. (2008). A study of life cycle costing in the perspectives of research and commercial applications in the 21^st century. In 2007 Proceedings of the ASME International Design Engineering Technical Conferences and Computers and Information in Engineering Conference, DETC2007: Volume 4 (pp. 721-730) https://doi.org/10.1115/DETC2007-34425

A study of life cycle costing in the perspectives of research and commercial applications in the 21^st century. / Cheung, Wai M.; Newnes, Linda B.; Mileham, Antony R.; Marsh, Robert; Lanham, John D.

2007 Proceedings of the ASME International Design Engineering Technical Conferences and Computers and Information in Engineering Conference, DETC2007: Volume 4 . 2008. p. 721-730.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Cheung, WM, Newnes, LB , Mileham, AR, Marsh, R & Lanham, JD 2008, A study of life cycle costing in the perspectives of research and commercial applications in the 21^st century. in 2007 Proceedings of the ASME International Design Engineering Technical Conferences and Computers and Information in Engineering Conference, DETC2007: Volume 4 . pp. 721-730, ASME/IEEE International Conference on Mechatronic and Embedded Systems and Applications, presented at - 2007 ASME International Design Engineering Technical Conferences and Computers and Information in Engineering Conference, IDETC/CIE2007, Las Vegas, NV, USA United States, 4/09/07. https://doi.org/10.1115/DETC2007-34425

Cheung WM, Newnes LB , Mileham AR, Marsh R, Lanham JD. A study of life cycle costing in the perspectives of research and commercial applications in the 21^st century. In 2007 Proceedings of the ASME International Design Engineering Technical Conferences and Computers and Information in Engineering Conference, DETC2007: Volume 4 . 2008. p. 721-730 https://doi.org/10.1115/DETC2007-34425

Cheung, Wai M. ; Newnes, Linda B. ; Mileham, Antony R. ; Marsh, Robert ; Lanham, John D. / A study of life cycle costing in the perspectives of research and commercial applications in the 21^st century. 2007 Proceedings of the ASME International Design Engineering Technical Conferences and Computers and Information in Engineering Conference, DETC2007: Volume 4 . 2008. pp. 721-730

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Access to Document

10.1115/DETC2007-34425

Link to publication in Scopus