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A Framework for Life–Cycle Cost Analysis for Future‐Proof Systems
Author(s) -
Rehman Obaid Ur,
Ryan Michael
Publication year - 2016
Publication title -
incose international symposium
Language(s) - English
Resource type - Journals
ISSN - 2334-5837
DOI - 10.1002/j.2334-5837.2016.00294.x
Subject(s) - proof of concept , computer science , context (archaeology) , projection (relational algebra) , process (computing) , systems engineering , risk analysis (engineering) , system dynamics , cost analysis , operations research , reliability engineering , industrial engineering , engineering , algorithm , artificial intelligence , medicine , paleontology , biology , operating system
In addition to elements that meet current capability, future‐proof system generally comprises elements to meet some or all of predicted future capability future proof system generally consists of the future capability elements (known as a projection of future capability) in the system design. The inclusion of the future projection affects the original system dynamics and thus affects the system capability and cost. The dynamics of future proofing plays an important role in the system design process and life‐cycle cost analysis (LCCA). In this paper, we present a framework for dynamic analysis of the life‐cycle cost analysis for future‐proof systems. The method presented in this paper may also be used to select an optimum future capability projection where the objective is the minimum cost of the ownership of the system. Here dynamics of future proofing is discussed in the context of the life‐cycle cost of a system. Finally, several examples are presented to explain the application of the developed framework.