Life Cycle Costing of Large Mining Equipment – Perth

This course provides participants with a solid foundation in the application of life cycle costing (LCC) methods to mining plant and equipment. It focuses on teaching participants how to use LCC principals to solve real world problems and to assess investments using reliability financial modelling and sensitivity analysis.

 


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Fundamentals of life cycle costing

What is Life Cycle Costing (LCC), practical applications of the LCC method, and terms & definitions.

Building & validating models

Model structure / maintenance strategy, condition based maintenance (purpose, method, LCC, maintenance strategy), process for model development, and validating models.

Incorporating risk

Understanding the asset operating context, key risk drivers, and identify & evaluate risk.

Investment analysis

Types of investment analysis, net present value, and equivalent unit cost (EUC).

Practical applications

Budgeting & forecasting, equipment selection / bids / assessments, dynamic life cycle costing, strategy optimisation, and replace verse rebuild decisions.

Bringing it all together

Discuss real world situations bringing together the different elements of LCC presented during the course

  • Learn how to build LCC models from first principals.
  • Understand how to validate and compare LCC models.
  • Know how to determine optimal asset disposal points.
  • Learn how to incorporate risk into LCC models.
  • Understand how to measure actual performance against a baseline.
  • Know how to use LCC as a maintenance decision support tool.

  • Maintenance Managers and Engineers
  • Cost Analysts
  • Purchasing and Supply Chain
  • Equipment Manufacturers and Dealers
  • Production Professionals
  • Suppliers and Financial Analysts