Aspects of Life-Cycle Costs of an Asset
Simple simulation is used to demonstrate that: deterministic methods may lead to our recovering less than the cost of a capital asset; our attempting to use an asset to the full extent of its apparent availability will cause late product delivery; any spares holding or replacement policy will be variable in its outcome and cost may not be very sensitive to the policy.
KeywordsCash Flow Weibull Distribution Capital Asset Replacement Policy Work Content
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