Asset Management Life Cycle Costing

This course provides participants with a solid foundation in the application of life cycle costing (LCC) methods to mining plant and equipment. It focuses on teaching participants how to use LCC principals to solve real world problems and to assess investments using reliability financial modelling and sensitivity analysis.

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Course Content

Fundamentals of Life Cycle Costing

What is Life Cycle Costing (LCC), practical applications of the LCC method, and terms & definitions.

Building & Validating Models

Model structure / maintenance strategy, condition based maintenance (purpose, method, LCC, maintenance strategy), process for model development, and validating models.

Incorporating Risk

Understanding the asset operating context, key risk drivers, and identify & evaluate risk.

Investment Analysis

Types of investment analysis, net present value, and equivalent unit cost (EUC).

Practical Applications

Budgeting & forecasting, equipment selection / bids / assessments, dynamic life cycle costing, strategy optimisation, and replace verse rebuild decisions.

Bringing it All Together

Discuss real-world situations bringing together the different elements of LCC presented during the course.

Learning outcomes

  • Learn how to align asset management with organisational objectives.
  • Increase knowledge in how to create a lowest production cost culture.
  • Understand effective techniques and philosophies to manage equipment.
  • Learn how to create and apply life cycle costing models.
  • Understand and practically apply reliability concepts.
  • Know how to perform asset management maturity reviews.
  • Learn how to prioritise asset management improvement strategies.

Who is the course for?

  • Maintenance Managers and Engineers
  • Cost Analysts
  • Purchasing and Supply Chain
  • Equipment Manufacturers and Dealers
  • Production Professionals
  • Suppliers and Financial Analysts

Want to learn more?

Contact [email protected] 

Delivery mode

Classroom or Remote

Duration

Classroom – Two Days
Remote – 15 hours (5 x 3 hour sessions)

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