Life Cycle Cost Analysis Of Different Repair Assumptions

This paper presents a mathematical model to estimate the life cycle cost (LCC) of 10 repairable equipment by taking pump as a case. Acquisition, Operation and Maintenance cost are calculated using activity based costing. Number of failure for maintenance cost is calculated for three repair assumptio...

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Main Authors:	Mulubrhan, Freselam, Azian, Ibrahim, Ainul Akmar, Mokhtar, Masdi, Muhammad
Format:	Conference or Workshop Item
Language:	English
Published:	2018
Subjects:	HD Industries. Land use. Labor
Online Access:	http://umpir.ump.edu.my/id/eprint/24032/ http://umpir.ump.edu.my/id/eprint/24032/ http://umpir.ump.edu.my/id/eprint/24032/1/Life%20Cycle%20Cost%20Analysis%20Of%20Different%20Repair%20Assumptions.pdf

id	ump-24032
recordtype	eprints
spelling	ump-240322019-01-29T03:15:32Z http://umpir.ump.edu.my/id/eprint/24032/ Life Cycle Cost Analysis Of Different Repair Assumptions Mulubrhan, Freselam Azian, Ibrahim Ainul Akmar, Mokhtar Masdi, Muhammad HD Industries. Land use. Labor This paper presents a mathematical model to estimate the life cycle cost (LCC) of 10 repairable equipment by taking pump as a case. Acquisition, Operation and Maintenance cost are calculated using activity based costing. Number of failure for maintenance cost is calculated for three repair assumptions based on the effectiveness of the maintenance. According to the characteristic that the cumulative failure probability observed a Weibull distribution model is used. General renewal process (GRP) is used to determine these three states. The results of the study show that, acquisition cost is less than 3%, operation cost is in between 85 to 91% and maintenance cost being between 6 to 13% which increase almost two times for minimal repair. Operation and maintenance cost are the highest of the total LCC therefore, it is necessary to have a long-term outlook to the investment decision-making process rather than trying to save money in the short-term by simply purchasing assets with lower initial acquisition costs. 2018 Conference or Workshop Item PeerReviewed pdf en http://umpir.ump.edu.my/id/eprint/24032/1/Life%20Cycle%20Cost%20Analysis%20Of%20Different%20Repair%20Assumptions.pdf Mulubrhan, Freselam and Azian, Ibrahim and Ainul Akmar, Mokhtar and Masdi, Muhammad (2018) Life Cycle Cost Analysis Of Different Repair Assumptions. In: 4th ASIA International Conference (AIC 2018), 8-9 December 2018 , Langkawi International Convention Center (LICC). p. 2.. http://www.utm.my/asia/
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Malaysia Pahang
building	UMP Institutional Repository
collection	Online Access
language	English
topic	HD Industries. Land use. Labor
spellingShingle	HD Industries. Land use. Labor Mulubrhan, Freselam Azian, Ibrahim Ainul Akmar, Mokhtar Masdi, Muhammad Life Cycle Cost Analysis Of Different Repair Assumptions
description	This paper presents a mathematical model to estimate the life cycle cost (LCC) of 10 repairable equipment by taking pump as a case. Acquisition, Operation and Maintenance cost are calculated using activity based costing. Number of failure for maintenance cost is calculated for three repair assumptions based on the effectiveness of the maintenance. According to the characteristic that the cumulative failure probability observed a Weibull distribution model is used. General renewal process (GRP) is used to determine these three states. The results of the study show that, acquisition cost is less than 3%, operation cost is in between 85 to 91% and maintenance cost being between 6 to 13% which increase almost two times for minimal repair. Operation and maintenance cost are the highest of the total LCC therefore, it is necessary to have a long-term outlook to the investment decision-making process rather than trying to save money in the short-term by simply purchasing assets with lower initial acquisition costs.
format	Conference or Workshop Item
author	Mulubrhan, Freselam Azian, Ibrahim Ainul Akmar, Mokhtar Masdi, Muhammad
author_facet	Mulubrhan, Freselam Azian, Ibrahim Ainul Akmar, Mokhtar Masdi, Muhammad
author_sort	Mulubrhan, Freselam
title	Life Cycle Cost Analysis Of Different Repair Assumptions
title_short	Life Cycle Cost Analysis Of Different Repair Assumptions
title_full	Life Cycle Cost Analysis Of Different Repair Assumptions
title_fullStr	Life Cycle Cost Analysis Of Different Repair Assumptions
title_full_unstemmed	Life Cycle Cost Analysis Of Different Repair Assumptions
title_sort	life cycle cost analysis of different repair assumptions
publishDate	2018
url	http://umpir.ump.edu.my/id/eprint/24032/ http://umpir.ump.edu.my/id/eprint/24032/ http://umpir.ump.edu.my/id/eprint/24032/1/Life%20Cycle%20Cost%20Analysis%20Of%20Different%20Repair%20Assumptions.pdf
first_indexed	2023-09-18T22:36:11Z
last_indexed	2023-09-18T22:36:11Z
_version_	1777416611381116928

Life Cycle Cost Analysis Of Different Repair Assumptions

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