Asset Life Cycle Cost
LEVEL : ADVANCED HRDF : CLAIMABLE
TRAINERS: ASSOC. PROF. DR AINUL AKMAR, ASSOC. PROF. DR. MASDI MUHAMMAD & DR HILMI HUSSIN
WHEN
21 - 23 JUNE 2021
WHERE
MS TEAMS (ONLINE)
TIME
9.00AM - 5.00PM
RM 1,750 FOR PROFESSIONALS
10% Discount for Early Bird (until 20 May 2021) / Group / Students
COURSE SUMMARY
INTRODUCTION
Assets and projects are either revenue generated or cost disbursements. For the case of revenue generated the main objective is to maximize profit. While for the assets or projects that require cost disbursements, the aim is to minimize the expenses. Both of these cases require either revenue and cost related evaluations or only cost expenses evaluations. The common approach is to evaluate the CAPEX, OPEX and revenue of the assets or projects during the asset utilizations or project durations. One of the most important criteria for the evaluations is the choice of the period of evaluations. It is common practice to select the utilization period of the assets for the case of assets that involve only cost disbursements. For the case of the projects the normal approach is to use project durations for the period of evaluations. These approaches do not cover the whole spectrum of the revenues and costs involved. A more comprehensive approach is to adopt life cycle costing (LCC). The LCC involved two main components. The acquisition and sustaining costs. The acquisition costs in turn covers R&D cost, non-recurring cost and recurring cost. The sustaining cost consists of scheduled and unscheduled cost, facility usage cost and disposal cost. Each of the above cost has five related cost elements such as for R&D cost, the cost elements consist of program management, R&D and advance R&D, engineering design, equipment development and test and engineering data. For revenue generated assets and projects, the LCC are based on the NPV of the revenues and costs for the whole assets/projects life. While cost expenses assets and projects only involved the NPV evaluations of the cost disbursements for the whole life of the assets/projects.
- Concept of LCC.
- LCC process.
- Required Data.
- Data Sources.
- LCC Decision Criteria.
Engineering Economy
Terminology.
Time value of Money.
Interest rates.
MARR/WACC.
Cash Flow Diagram.
Economic Equivalence.
Net Present Value.
Engineering Economy
- Internal rate of return (IRR).
- Payback Period.
- Profitability Index.
Cost Estimation
- Estimation Models.
- Per unit model.
- Cost Indexes.
- Power Sizing Model.
Life Cycle Cost Models
- Cost Drivers.
- Simplified Model.
- Rigorous Model.
- Comparison between alternatives.
Sensitivity Analysis
- Result sensitivity to parameter variation.
- Breakeven analysis.
- Spider Plot.
Replacement Analysis.
- Factors that must be considered in replacement studies.
- Economic life of defender and challenger.
- Marginal cost comparison.
- Equivalent Uniform Annual Cost (EUAC).
OBJECTIVES
Upon completion of this course, participants will be able to:
- To understand the basic concepts of engineering economy and its underlying principles.
- To perform life cycle cost (LCC) analysis and recommend option based on the lowest total cost of ownership.
To perform replacement analysis.
WHO SHOULD JOIN US TO :
Asset Managers and Executives.
Engineers, Researchers & Consultants.
Project Engineers
1. Associate Professor Dr Ainul Akmar Mokhtar
Dr Ainul Akmar Mokhtar current position as Associate Professor in Mechanical Engineering, Universiti Teknologi PETRONAS. She had industrial experience, 3 Years with SEAGATE Technology Sdn Bhd, and 19 Years with University Teknologi PETRONAS. AP Dr Ainul had academic qualifications, PhD in Mechanical Engineering (Reliability Engineering),Universiti Teknologi Petronas, Master Of Science In Manufacturing Systems, University Of Nottingham and Bachelor Of Science In Industrial Engineering, Purdue University. Area of expertise in Industrial Engineering, Mechanical Engineering, Operations Management and Operations Research. She had professional certifications and awards in API 580 Risk-Based Inspection and HRDF Certified Trainer.
Associate Professor Dr Masdi Muhammad current position as Head, Reliability Engineering and Asset Management research group, UTP. Academic qualifications, Degree in Mechanical Engineering from Lehigh University, Pennsylvania, USA, Master of Science in Manufacturing System Engineering from Lehigh University, Pennsylvania, USA and PhD in Mechanical Engineering (Reliability Engineering) from Universiti Teknologi PETRONAS.
Area of expertise for AP Dr Masdi in, Reliability Engineering, Asset and operation management, Discrete event simulation and RAM Modeling, Life Cycle Cost Analysis and Predictive analytic modeling. AP Dr Masdi had professional certificate and award gains in Chartered Engineer (UK), HRDF Certified Trainer, Certified Reliability Engineer (CRE-8155) by American Society for Quality (ASQ), Certified Maintenance and Reliability Professional (CMRP- 156299) by Society for Maintenance and Reliability Professionals (SMRP).
3. Dr Hilmi Hussin
Dr Hilmi Hussin current position as Programme Manager, MSc Asset Management and Maintenance, Universiti Teknologi PETRONAS. He had industrial experience 6 Years with Seagate Technology Sdn Bhd (Senior Quality Engineer), 4 Years with Applied Magnetics Sdn Bhd (Process Engineer) and 17 Years with Universiti Teknologi PETRONAS. Academic qualification for Dr Hilmi, PhD in Mechanical Engineering (Reliability Engineering) from Universiti Teknologi PETRONAS, Master of Science in Manufacturing System Engineering from Warwick University, UK and Bachelor of Science in Mechanical Engineering from State University of New York, Buffalo, NY, USA.
Dr Hilmi had area of expertise in Reliability Engineering, Asset and operation management, Discrete event simulation and RAM Modeling, Six Sigma and Lean Manufacturing. His professional certification and awards in Six Sigma Black Belt (Seagate Technology) and HRDF Certified Trainer.
REGISTRATION FEES
ProfessionalS
myr1,750
*fee quoted does not include SST, GST/VAT or withholding tax (if applicable)
Early bird/ group/ student
myr1,575
*fee quoted does not include SST, GST/VAT or withholding tax (if applicable)
OUR LOCATION
Centre for Advanced & Professional Education (CAPE)
Level 16, Menara 2,
Menara Kembar Bank Rakyat,
50470, Jalan Travers,
Kuala Lumpur.
CALL US
+605 - 368 7558
DROP US AN EMAIL
cape@utp.edu.my