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Many products and assets have long lives and significant parts of their costs are incurred over different stages of their life cycles (design, engineering, procurement, production, assembly, transportation, maintenance, repair, disposal etc.) After concluding the course, focused primarily on case studies, the student should know the methodology and main principles of Life-Cycle-Cost Management, carry out cost estimation tasks using available information and appropriate measures of effectiveness, modelling uncertainty, as well as understand and interpret the results. Last update: Vlachý Jan (14.12.2020)
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Defence of individually assigned project, interview. Last update: Vlachý Jan (14.12.2020)
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Core Literature: [1] Farr, J.W., Faber, I. Engineering Economics of Life Cycle Cost Analysis. Boca Raton, Taylor & Francis, 2018. [2] Bull, J.W. Life Cycle Costing for Construction. New York, Routledge, 2014. [3] Stark, J. Product Lifecycle Management: 21st Century Paradigm for Product Realisation, 2nd ed. London, Springer, 2011. [4] Dhillon, B.S. Life Cycle Costing for Engineers. Boca Rayton, Taylor & Francis, 2010. Recommended Literature: [5] Drury, C. Management and Cost Accounting, 10th ed. Boston, Cengage, 2018. [6] Emblesvåg, J. Life Cycle Costing: Using Activity-based Costing and Monte Carlo Methods to Manage Future Costs and Risks. Hoboken, John Wiley, 2003. [7] Yin, R.K. Case Study Research: Design and Methods, 5th ed. London, SAGE Publications, 2014. Additional readings as assigned by lecturer. Last update: Vlachý Jan (14.12.2020)
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1. Life Cycle Cost Concepts and Applications 2. Cost Models and Analysis 3. Cost Elements, Calculation Techniques 4. Costs Uncertainty, Statistical Modelling of Costs 5. Data Collection and Forecasting 6. LCCA for Infrastructure 7. Value Chain-based Life Cycle Cost Analysis, Value Engineering 8. LCCA and the Choice of Materials or Assets 9. LCCA and Sustainable Design 10. Relation to LCA and Other Life Cycle-based Concepts 11. LCC Best Practice 12. LCCA and the Decision-maker's Dilemma 13. Case Study and Consultation Related to the Subject of Thesis 14. Written Assignment Presentation and Interview Last update: Vlachý Jan (14.12.2020)
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