Open AccessLIFE CYCLE COST ANALYSIS: ACTUAL PROBLEM IN INDUSTRIAL MANAGEMENT
Author(s) -
David Elmakis,
Anatoly Lisnianski
Publication year - 2006
Publication title -
journal of business economics and management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.485
H-Index - 37
eISSN - 1611-1699
pISSN - 2029-4433
DOI - 10.3846/16111699.2006.9636115
Subject(s) - contradiction , reliability (semiconductor) , risk analysis (engineering) , life cycle cost analysis , product life cycle management , computer science , reliability engineering , cost accounting , operations research , operations management , economics , business , engineering , management , philosophy , power (physics) , physics , epistemology , quantum mechanics , marketing
The reliability associated costs are the main part of total life cycle cost for any repairable system. The paper presents the history of life cycle cost analysis, its principles and applicable standards. It analyzes the reasons behind the contradiction between the great theoretical achievements and their relatively rare applications in practice. It was shown that incorrect management is the main reason. Measures for management improvement were suggested.