Essay Title: 

Life-cycle costing

March 24, 2016 | Author: | Posted in accounting, mathematics and economics

This study will analyze a large body of literature to confirm maintenance growth as a function of age . Validating these perceived maintenance increases and quantifying the significance of this trend is necessary to accurately forecast future cost of ownership

Statement of the Problem

Today no Life Cycle Cost model attempts to quantify the rate of airframe maintenance cost increases due to the effects of aging . MIL-HDBK-1530 defines aging aircraft as the point in time in which the aircraft : 1 has over flown it ‘s design service goal , 2 ) is corroded , or 3 [banner_entry_middle]

) has reached the time of onset of widespread fatigue damage (WFD . It is further characterized as the point at which both the cost and operational burden associated with repairing fatigue , corrosion , and stress corrosion cracking (SCC ) either by themselves or in combination result in a significant departure from a newly manufactured aircraft Today no industry recognized cost escalation factors exist which represent airframe maintenance cost increases due to aging Figure 2 . How Aircraft Aging May Relate to Flight Safety , Aircraft Availability , and Support Costs (Kim et al , 2005

The cost to maintain and operate aging aircraft is being reviewed to identify factors , which must be included in the methodology to accurately assess the economic service life of aging aircraft . Recent GAO reports have been critical of increases in both depot maintenance man-hours (cost ) and duration (downtime ) of military aircraft . These GAO reports have associated these increases with the irreversible effects of aging (General Accounting Office , 1996

To accurately predict the Economic Service Life of an aircraft one must model aging considerations , and compare those costs to the costs of acquiring and operating an alternative aircraft . Aging fleet maintenance requirements must be also combined with estimates to upgrade outdated avionics . These plans may include navigational upgrades required to comply… [banner_entry_footer]

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