Life Cycle Costing for Engineers

The life cycle cost is the sum of all costs incurred during the life time of an item. In today's global economy, the procurement decisions of many engineering products are not entirely made on initial procurement costs alone but on their life cycle costs. Past experiences indicate that product ownership cost often exceeds the procurement cost. Eliminating the need to consult many different sources, this book brings together useful life cycle costing concepts for various industrial sectors. It explores the economics of life cycle costing, presents introductory engineering reliability and maintainability concepts, and includes numerous examples with solutions.

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

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.