Life Cycle Costing

As part of New Dimension Solutions holistic approach to Asset Management, we have developed a robust Life Cycle Costing practice. The challenge of proactively calculating and managing all equipment costs (operation, maintenance, vendor support and spares) from conceptual design through useful life, decommissioning and disposal is both more difficult, and more important than ever.

When budget planning is too heavily weighted toward the initial purchase price of industrial equipment or design-build projects, cost overruns are inevitable. Life cycle costing is a key element for making better long-term financial decisions. But a necessary condition for effective life-cycle costing is a thorough understanding of reliability principles.

Decision makers must have a clear understanding of how their equipment will fail, how often and what the consequences of that failure will be. System designers and design-build contractors don’t generally focus on how their equipment or plant will most likely fail. Responsibility for reliability falls to the plant manager and the maintenance department. 

Our approach provides a rigorous, transparent, auditable process for optimizing plant reliability, while at the same time lowering equipment cost by managing it through its entire life cycle. Are you and your team faced with questions like these?

New Dimension Solutions’ cutting-edge approach to Life Cycle Costing has five elements:

	Risk Management   Read More
	Equipment Failure Analysis   Read More
	Reliability Centered Maintenance Analysis   Read More
	Reliability Centered Spares   Read More
	Enhanced Strategic Planning through Computer Simulation   Read More

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