scholarly journals A Framework for Life Cycle Cost Estimation of a Product Family at the Early Stage of Product Development

2012 ◽  
Vol 605-607 ◽  
pp. 222-227
Author(s):  
Jaya Suteja The ◽  
Prasad K.D.V. Yarlagadda ◽  
M. Azharul Karim ◽  
Cheng Yan
Keyword(s):  
Life Cycle ◽  
Product Development ◽  
Cost Estimation ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Early Stage ◽  
Estimation Method ◽  
Product Family ◽  
Product Family Design ◽  
The Cost

A cost estimation method is required to estimate the life cycle cost of a product family at the early stage of product development in order to evaluate the product family design. There are difficulties with existing cost estimation techniques in estimating the life cycle cost for a product family at the early stage of product development. This paper proposes a framework that combines a knowledge based system and an activity based costing techniques in estimating the life cycle cost of a product family at the early stage of product development. The inputs of the framework are the product family structure and its sub function. The output of the framework is the life cycle cost of a product family that consists of all costs at each product family level and the costs of each product life cycle stage. The proposed framework provides a life cycle cost estimation tool for a product family at the early stage of product development using high level information as its input. The framework makes it possible to estimate the life cycle cost of various product family that use any types of product structure. It provides detailed information related to the activity and resource costs of both parts and products that can assist the designer in analyzing the cost of the product family design. In addition, it can reduce the required amount of information and time to construct the cost estimation system.

Application of the life cycle cost estimation method in transport infrastructure managing

2019 ◽  
Vol 126 ◽  
pp. 5-14
Author(s):  
Anna Gobis ◽  
Kazimierz Jamroz ◽  
Łukasz Jeliński
Keyword(s):  
Life Cycle ◽  
Cost Estimation ◽  
Life Cycle Cost ◽  
Estimation Method ◽  
Research Problem ◽  
Transport Infrastructure ◽  
Life Cycle Thinking ◽  
Infrastructure Management ◽  
Practical Tool ◽  
The Cost

The transport infrastructure management should be in line with sustainable development. Actions and activities that combine the environmental, social, and infrastructure expenditures optimally should be undertaken. The article presents a concept of life-cycle thinking that resolves these problems. The life cycle cost estimation method is a practical tool for managing transport infrastructure. The LCC analysis mustn’t generate more work than the benefits of it. Therefore appropriate assumptions should be made in constructing the method. The method assumes basic assumptions, taking into account the extensive scope of the research problem: transport infrastructure. The result of this article is a proposed mathematical model for estimating life-cycle costs. In the end, the practical use of the proposed methodology for determining the cost of the horizontal marking is provided.

scholarly journals Comparison of Product Life Cycle Cost Estimating Models Based on Neural Networks and Parametric Techniques—A Case Study for Induction Motors

2020 ◽  
Vol 12 (20) ◽  
pp. 8353
Author(s):  
Zbigniew Leszczyński ◽  
Tomasz Jasiński
Keyword(s):  
Neural Networks ◽  
Life Cycle ◽  
Cost Estimation ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Parametric Estimation ◽  
Percentage Error ◽  
Product Life ◽  
Technical Specifications ◽  
The Cost

The cost estimation of a product’s life cycle is a key factor in the product design process. The research is based on an innovative model of artificial neural networks (ANNs) compared to a parametric estimation. Introducing modern elements of information technologies in the area of cost estimation for a production company is a vital element of its sustainability in the era of Industry 4.0. The presented modern product life cycle cost estimation tool in the form of ANN is a reliable source of forecast that is the basis for the product life cycle cost reduction program, which is a crucial element of sustainability. Research shows that ANNs are a viable alternative to parametric cost estimation. The percentage error between estimated and historical cost values is 8.05 times lower for ANN than for the parametric approach. ANN is an adequate cost estimation model for technologically complex products. The second contribution is using technical specifications required by the customer directly to estimate the cost of a product’s life cycle automatically. This can translate both into a reduction of the time needed to provide information to the client and the workload of engineers.

scholarly journals The use of methods and computer aided systems in the ecological design of product development

Mechanik ◽  
2018 ◽  
Vol 91 (1) ◽  
pp. 73-75
Author(s):  
Marcin Paprocki
Keyword(s):  
Life Cycle ◽  
Product Development ◽  
Cost Estimation ◽  
Product Life Cycle ◽  
Design Procedure ◽  
Ecological Design ◽  
Product Life ◽  
Computer Aided ◽  
Environmental Component ◽  
The Cost

Presented are two concepts of the process planning design procedure and the cost estimation aided by CAPP systems. Methods aiding ecological design of the product development, such as DFMA, DFE, FMEA, QFD and LCA, are presented too. The Eco-indicator 99 method which is used in the assessment of product life cycle impact on the environment (LCIA) is discussed. The paper recommends complementing the strategic enterprise backbone with the environmental component of the product life cycle assessment (Ecological Backbone).

Life Cycle Cost Modeling of Pumps Using an Activity Based Costing Methodology

2010 ◽  
Vol 132 (12) ◽  
Author(s):  
Laxman Waghmode ◽  
Anil Sahasrabudhe ◽  
Prasad Kulkarni
Keyword(s):  
Life Cycle ◽  
Cost Estimation ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Good Alternative ◽  
Life Cycle Costing ◽  
Activity Based Costing ◽  
Product Life ◽  
Traditional Costing ◽  
The Cost

Global competition is forcing manufacturing firms, designers, and customers to adopt life cycle costing methodology. The product life cycle costing (LCC) approach can help track and analyze the cost implications associated with each phase of product life cycle. LCC practices with traditional costing methods may provide results that have a severe deviation from the real product LCC as they focus on the cost of materials, labor, and a low portion of overheads apportioned by the absorption rate to the product. On the contrary, activity based costing (ABC) has emerged as a good alternative to traditional cost estimation techniques since it provides more accurate results. It is based on the principle that products or services consume activities and activities consume resources that generate costs. This paper presents a LCC modeling approach for estimating life cycle cost of pumps using the activity based costing method. The methodology presented here is an extension of application of ABC to entire product life cycle activities. The study was conducted in a large pump manufacturing company from India that has significant global standing within its industry. All the activities and associated cost drivers have been first identified for the entire life cycle of pumps. A methodology for LCC analysis using ABC is then developed and applied to two different pumps manufactured by the same industry and the results are presented.

A Study of Life Cycle Costing in the Perspectives of Research and Commercial Applications in the 21st Century

2007 ◽  
Author(s):  
Wai M. Cheung ◽  
Linda B. Newnes ◽  
Antony R. Mileham ◽  
Robert Marsh ◽  
John D. Lanham
Keyword(s):  
Life Cycle ◽  
Cost Estimation ◽  
Life Cycle Cost ◽  
Academic Research ◽  
Life Cycle Costing ◽  
Electronic Products ◽  
Commercial Applications ◽  
The Uk ◽  
The Cost ◽  
Traditional Approaches

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.

Life Cycle Cost Modeling of Pumps Using an Activity Based Costing Methodology

2010 ◽  
Author(s):  
Laxman Yadu Waghmode ◽  
Anil Dattatraya Sahasrabudhe
Keyword(s):  
Life Cycle ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Business Environment ◽  
Life Cycle Costing ◽  
Activity Based Costing ◽  
Global Business ◽  
Product Life ◽  
Traditional Costing ◽  
The Cost

In order to survive in today’s competitive global business environment, implementation of life cycle costing methodology with a greater emphasis on cost control could be one of the convincing approaches for the manufacturing firms. The product life cycle costing approach can help track and analyse the cost implications associated with each phase of product life cycle. Life cycle costing (LCC) practices with traditional costing methods may provide results that have a severe deviation from the real product LCC as it focuses on the cost of materials, labor and a low portion of overheads apportioned by the absorption rate to the product. Activity based costing (ABC) has emerged as one of the several innovative and more accurate costing methods in recent years. It is based on the principle that products or services consume activities and activities consume resources that generate costs. Thus, the ABC system focuses on calculating the costs incurred on performing the activities to manufacture a product. This paper presents a LCC modeling approach for estimating life cycle cost of pumps using activity based costing method. The study was conducted in a large pump manufacturing company from India that has significant global standing within its industry. Firstly, all the activities and cost drivers associated with the life cycle of a pump have been identified. A methodology for LCC analysis using ABC is then developed and it is applied to two different pumps manufactured by the same industry and the results obtained are presented.

scholarly journals THE IMPACT OF PRODUCT LIFE CYCLE TECHNIQUE IN REDUCING COSTS AND ACHIEVING SUSTAINABLE DEVELOPMENT GOALS, A CASE STUDY IN THE RUSTAN STEEL STRUCTURE PRODUCTION COMPANY IN ERBIL

2021 ◽  
Vol 03 (07) ◽  
pp. 314-328
Author(s):  
Ghazi Abdulazeez SULAIMAN BAG ◽  
Rafiq Faraj MAHMOOD
Keyword(s):  
Corporate Governance ◽  
Life Cycle ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Steel Structures ◽  
Product Life ◽  
Technical Requirements ◽  
The Cost ◽  
The Impact

This research was - case study in Rstin company for the steel structures in Erbil- addressed the cost technique of product life cycle, as discussed the kinds, relevance and the stages of the life cycle of the product, also it referred to the corporate governance of discussing its inception the concept and importance of the principles, objectives, and mechanisms was addressed to the technical aspects of the overlap between the cost of the product life cycle corporate governance and show the appropriate techniques used in each stage of the life cycle of the product and how it achieved by a reduction of costs. The result of this study indicates that the integration between the product life cycle cost and corporate governance works on reduce costs through the various stages of product life cycle. It also concluded that this integration increases the company ability to compete in market which leads to rise in its market share and eventually lead to maximize the profit which has been achieved through the optimal use of a company available resources. It also found that the techniques of life cycle cost of the product cannot be applied without support of the company directors, throughout the technical requirements of the application. Corporate governance ensures directors of the company to utilize firm resources which makes the company to achieve several stakeholders' objectives.

scholarly journals The Cost Analysis of Corrosion Protection Solutions for Steel Components in Terms of the Object Life Cycle Cost

2017 ◽  
Vol 26 (3) ◽  
pp. 5-13 ◽  
Author(s):  
Dariusz Kowalski ◽  
Beata Grzyl ◽  
Adam Kristowski
Keyword(s):  
Life Cycle ◽  
Corrosion Protection ◽  
Cost Estimation ◽  
Life Cycle Cost ◽  
Optimal Solution ◽  
Local Conditions ◽  
Safety Standards ◽  
The Road ◽  
Major Disadvantage ◽  
The Cost

Abstract Steel materials, due to their numerous advantages - high availability, easiness of processing and possibility of almost any shaping are commonly applied in construction for carrying out basic carrier systems and auxiliary structures. However, the major disadvantage of this material is its high corrosion susceptibility, which depends strictly on the local conditions of the facility and the applied type of corrosion protection system. The paper presents an analysis of life cycle costs of structures installed on bridges used in the road lane conditions. Three anti-corrosion protection systems were considered, analyzing their essential cost components. The possibility of reducing significantly the costs associated with anti-corrosion protection at the stage of steel barriers maintenance over a period of 30 years has been indicated. The possibility of using a new approach based on the life cycle cost estimation in the anti-corrosion protection of steel elements is presented. The relationship between the method of steel barrier protection, the scope of repair, renewal work and costs is shown. The article proposes an optimal solution which, while reducing the cost of maintenance of road infrastructure components in the area of corrosion protection, allows to maintain certain safety standards for steel barriers that are installed on the bridge.

Cost Estimation of Product Life Cycle

2011 ◽  
Vol 421 ◽  
pp. 582-585
Author(s):  
Zi Qin Ma ◽  
Ting Ting Xu ◽  
Li Sun ◽  
Xiu Lun Wang ◽  
Jian Min Fan ◽  
...  
Keyword(s):  
Life Cycle ◽  
Cost Estimation ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Present Value ◽  
Estimation Model ◽  
Product Life ◽  
Target Cost ◽  
Cost Estimation Model ◽  
The One

The cost estimation of the product life cycle was researched. On the one side, the life cycle cost present value for manufacturer was estimated, including mainly of target cost, service cost and fault compensation. And a life cycle cost estimation model for manufacturer, which combines target cost and proportion cost estimated, was proposed. On the other side, the life cycle cost present value for user was estimated, including mainly of purchase, installation, commissioning costs in beginning and labor, maintenance, depreciation, maintenance costs in operations. And another life cycle cost estimation model for user, which combines process cost and proportion cost estimated, was proposed.

Sign in / Sign up

Export Citation Format

Share Document