Life Cycle Costing of Large Mining Equipment – Remote – North America

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