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The term differs slightly from Total cost of ownership analysis (TCOA). LCCA determines the most cost-effective option to purchase, run, sustain or dispose of an object or process, and TCOA is used by managers or buyers to analyze and determine the direct and indirect cost of an item. [1] The term is used in the study of Industrial ecology (IE ...
A prediction of reliability is an important element in the process of selecting equipment for use by telecommunications service providers and other buyers of electronic equipment, and it is essential during the design stage of engineering systems life cycle. [1] Reliability is a measure of the frequency of equipment failures as a function of time.
Whole-life cost is the total cost of ownership over the life of an asset. [1] [clarification needed] The concept is also known as life-cycle cost (LCC) or lifetime cost, [2] and is commonly referred to as "cradle to grave" or "womb to tomb" costs. Costs considered include the financial cost which is relatively simple to calculate and also the ...
The financial costs in LCCA include upfront capital expenditures, ongoing operations and maintenance costs, replacement costs, and the residual value of assets at the end of the life-cycle. The financial costs of each alternative are discounted into present value terms to account for different timing of costs.
Life cycle energy analysis (LCEA) is an approach in which all energy inputs to a product are accounted for, not only direct energy inputs during manufacture, but also all energy inputs needed to produce components, materials and services needed for the manufacturing process. [110] With LCEA, the total life cycle energy input is established. [111]
Product cost management (PCM) is a set of tools, processes, methods, and culture used by firms who develop and manufacture products to ensure that a product meets its profit (or cost) target. Scope [ edit ]
Earned Value Management is a second tool within project management that allows for the tracking of progress throughout the life cycle of a project. BOEs, when executed properly and with the aid of certain software packages, allow for a seamless transition from project proposal to execution by transferring data from the BOE directly into ...
For longer-term analysis that considers the entire life-cycle of a product, one therefore often prefers activity-based costing or throughput accounting. [ 1 ] When we analyze CVP is where we demonstrate the point at which in a firm there will be no profit nor loss means that firm works in breakeven situation