Product Life Cycle Cost Modelling A Suggested Framework

This paper presents a framework for product life cycle cost modelling. The proposed framework is aimed at developing a life cycle cost (LCC) model within the perspective of reliability and maintainability (R & M). To develop the model, all the products/systems are classified as repairable and non-repairable. The reliability of repairable systems is characterized by mean time between failures (MTBF) and the maintainability by mean time to repair (MTTR). For non-repairable systems the mean time to failure (MTTF), is the reliability characteristic. MTBF, MTTR and MTTF are critical parameters from R & M theory that impact LCC. The review of the state of the art in LCC is first presented. The need analysis and the research approach followed are further discussed. Finally, the detailed LCC frameworks for repairable and non-repairable systems are presented stating the conclusions and future work.