NDLI: Activity-based life cycle cost analysis as an alternative to conventional LCC in engineering design

Content Provider	Springer Nature Link
Author	Kayrbekova, Dina Markeset, Tore Ghodrati, Behzad
Copyright Year	2011
Abstract	Petroleum exploration and production in the Arctic region is becoming of increasing interest as the world needs more energy. However, since there is little experience and data on Arctic oil and gas production, the design of production facilities and equipment to be used in the Arctic region is fraught with high cost and risk. Conventional life cycle costing (LCC) approaches have been discussed in literature for many years, but it is difficult to perform such analysis due to the need for a large amount of data and the inherent uncertainty in the results. There is also little evidence in the literature on the practical usage of LCC. In this paper we discuss the differences between conventional LCC and activity-based LCC (AB-LCC) cost systems. Moreover, based on an analytical comparison between the two methodologies we find that the AB-LCC methodology may be a better alternative to use for cost analysis in the design of production facilities to be used in unfamiliar environments such as the Arctic. A simple example is used to demonstrate the differences between conventional LCC and AB-LCC analysis.
Starting Page	218
Ending Page	225
Page Count	8
File Format	PDF
ISSN	09756809
Journal	International Journal of System Assurance Engineering and Management
Volume Number	2
Issue Number	3
e-ISSN	09764348
Language	English
Publisher	Springer-Verlag
Publisher Date	2011-08-27
Publisher Place	India
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Life cycle costs analysis Activity-based life cycle costing Design Operation Maintenance Support services Arctic environment Petroleum production facilities Quality Control, Reliability, Safety and Risk Engineering Economics, Organization, Logistics, Marketing
Content Type	Text
Resource Type	Article
Subject	Strategy and Management Safety, Risk, Reliability and Quality

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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