Life Cycle Costing for Engineers

Cradle-to-grave analyses are becoming the norm, as an increasing amount of corporations and government agencies are basing their procurement decisions not only on initial costs but also on life cycle costs. And while life cycle costing has been covered in journals and conference proceedings, few, if any, books have gathered this information into an easily accessible resource. Eliminating the need to consult many different sources, Life Cycle Costing for Engineers brings together up-to-date life cycle costing concepts and explains their application in various industrial sectors.

The author sets the scene with a chapter on fundamental economics followed by a chapter on reliability and maintainability, providing background information and platform for further understanding. He then discusses life cycle costing fundamentals, models and estimation methods, reliability, quality, safety, and manufacturing costing, and maintenance, maintainability, usability, and warranty costing. The book includes life cycle costing for computer systems and software, transportation systems, aircraft turbine engines, cargo ships, rail systems, civil engineering structures, and energy systems. An in-depth look at cost estimation models and engineering reliability and maintainability topics such as bathtub hazard rate curve, common reliability networks, general reliability, mean time to failure, and hazard rate formulas round out the coverage.

Filled with examples, tables, figures, and equations, this book integrates life cycle costing concepts for use in industrial and other sectors. It provides a modern treatment of the subject that can easily be applied to any industry.

Introduction. Life Cycle Costing Economics. Life Cycle Costing Fundamentals. Life Cycle Cost Models and Cost Estimation Methods. Reliability, Quality, Safety, and Manufacturing Costing. Maintenance, Maintainability, Usability, and Warrant Costing. Computer System Life Cycle Costing. Transportation System Life Cycle Costing. Civil Engineering Structures and Energy System Life Cycle Costing. Miscellaneous Cost Estimation Models. Introduction to Engineering Reliability and Maintainability. Appendix.

B.S. Dhillon is a professor in the Department of Mechanical Engineering at the University of Ottawa.