Skip to main content
placeholder image

The role of life cycle cost in engineering asset management

Conference Paper


Download full-text (Open Access)

Abstract


  • This paper presents a case study demonstrating life cycle cost (LCC)

    analysis as a major and critical activity of engineering asset management decisions

    and control. The objective is to develop a maintenance policy to control the

    economics of replacement and repair practice of refractory lining of an electric arc

    furnace (EAF). The replacement & repair policies involve the optimum life policy,

    the repair versus replacement policies, the repair limit method and the comparison

    of lining material types from different suppliers.

    The developed models provide a method for defining the most important

    factors involved in decision making with respect to operational and managerial

    levels. The approach also involves deciding the remaining age value as the repair

    limit criteria while avoid lining failure due to unavoidable deterioration caused by

    variation in operation conditions.

    The decision criteria are established as: a) what type of lining material is better

    to use? b) When to replace lining in a cyclic manner? c) At what sequence is hot

    repair required and d) whether to replace or use cold repair between replacements.

    Finally, the model output values for the decision criteria are presented in tables

    and graphs to guide decision making in operation and maintenance.

Publication Date


  • 2013

Citation


  • El-Akruti, K. O., Dwight, R., Zhang, T. & Al-Marsumi, M. (2013). The role of life cycle cost in engineering asset management. 8th World Congress on Engineering Asset Management and Safety (pp. 173-188).

Ro Full-text Url


  • http://ro.uow.edu.au/cgi/viewcontent.cgi?article=3500&context=eispapers

Ro Metadata Url


  • http://ro.uow.edu.au/eispapers/2491

Start Page


  • 173

End Page


  • 188

Place Of Publication


  • http://www.wceam2013.com/en

Abstract


  • This paper presents a case study demonstrating life cycle cost (LCC)

    analysis as a major and critical activity of engineering asset management decisions

    and control. The objective is to develop a maintenance policy to control the

    economics of replacement and repair practice of refractory lining of an electric arc

    furnace (EAF). The replacement & repair policies involve the optimum life policy,

    the repair versus replacement policies, the repair limit method and the comparison

    of lining material types from different suppliers.

    The developed models provide a method for defining the most important

    factors involved in decision making with respect to operational and managerial

    levels. The approach also involves deciding the remaining age value as the repair

    limit criteria while avoid lining failure due to unavoidable deterioration caused by

    variation in operation conditions.

    The decision criteria are established as: a) what type of lining material is better

    to use? b) When to replace lining in a cyclic manner? c) At what sequence is hot

    repair required and d) whether to replace or use cold repair between replacements.

    Finally, the model output values for the decision criteria are presented in tables

    and graphs to guide decision making in operation and maintenance.

Publication Date


  • 2013

Citation


  • El-Akruti, K. O., Dwight, R., Zhang, T. & Al-Marsumi, M. (2013). The role of life cycle cost in engineering asset management. 8th World Congress on Engineering Asset Management and Safety (pp. 173-188).

Ro Full-text Url


  • http://ro.uow.edu.au/cgi/viewcontent.cgi?article=3500&context=eispapers

Ro Metadata Url


  • http://ro.uow.edu.au/eispapers/2491

Start Page


  • 173

End Page


  • 188

Place Of Publication


  • http://www.wceam2013.com/en