Life Cycle Costing
Let’s be honest, current advances in spares and technology are coming faster than many maintenance or engineering managers can keep up with! In addition, the continual and on-going pressure to ensure that all equipment is 100% reliable and in working order at all times means that if you want to keep up with business demand there is a very real threat of selecting the wrong equipment, part or service and this can then come back to haunt you as it may result in costly downtime.
Added to this many organisations focus on the initial costs of buying and implementing a particular piece of equipment and often ignore the long-term or life cycle costs altogether. This is simply because they don’t have the knowledge or understanding to truly assess the total cost of ownership.
That is where this Life Cycle Costing training course comes in. Current economic pressures make it imperative to maximise asset reliability so this training course has been researched and developed to focus on how to accurately cost equipment selection whilst taking into account actual equipment survival and/or failure rates as well as the total costs incurred during the equipment’s lifetime. This will allow you to choose the most cost-effective approach from a series of available alternatives, which in the long term will save your organisation time and money which is the Holy Grail of every maintenance and engineering manager!
Our Life Cycle Costing training course uses as many real-life and practical maintenance and equipment examples as possible to show you how to make long-term ownership decisions rather than only choosing the lowest cost option first. We will take you in detail through all of the Life Cycle Costing phases and we will answer all of your questions that relate to each phase – you will leave this training course with a detailed understanding of what Life Cycle Costing is and how to apply to your current maintenance environment.
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