Maintenance and Engineering

Life Cycle Costing for Engineering Assets

Purchase price is only a fraction of the total cost of owning an asset. This course teaches life cycle costing for engineering assets: cost breakdown structures, capital, operating, maintenance and disposal costs, discounting, reliability and availability effects, comparing options and supporting replacement and investment decisions.

5 days Classroom or live online English

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Take the course details with you.

Download the full standard outline: why attend, methodology, objectives, audience, competencies, the daily outline and current plans.

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Why attend

From knowledge to real-world impact.

Buying on lowest price often leads to higher total cost. You will learn to make asset decisions on whole-life value.

Workplace challenges

Professional Problems This Course Is Designed to Solve

The programme explores practical approaches to the following challenges. Results depend on how the learning is applied in your organisation.

Difficulty translating subject knowledge into practical workplace decisions.
Inconsistent approaches to the activities covered in the course outline.
Lack of a structured plan for applying and reviewing new skills.

Course methodology

How you will learn.

LCC modelling exercises, option comparison case studies and replacement decision workshops.

Course objectives

What you'll take away.

By the end of this course, participants will be able to:

Explain life cycle cost concepts
Build cost breakdown structures
Estimate operating and maintenance costs
Apply discounting and net present value
Include reliability and downtime costs
Support purchase and replacement decisions

Target audience

Who should attend.

This course is suitable for:

Asset and maintenance managers
Engineers specifying equipment
Procurement professionals
Finance analysts
Project engineers

Target competencies

Capabilities you will build.

Participants will develop competencies in:

Cost modelling
Financial evaluation
Reliability economics
Option comparison
Decision support

Course outline

Your learning journey.

A focused, practical outline with time to explore, apply and reflect.

Day 1Life Cycle Costing

09:00–10:08Why LCC
10:08–11:00Life cycle stages
11:00–11:30Coffee break
11:30–11:45Life cycle stages (continued)
11:45–12:53Standards
12:53–14:00Exercise

Day 2Cost Structures

09:00–10:08Capital costs
10:08–11:00Operating and maintenance costs
11:00–11:30Coffee break
11:30–11:45Operating and maintenance costs (continued)
11:45–12:53Disposal
12:53–14:00Workshop

Day 3Financial Evaluation

09:00–10:08Discounting
10:08–11:00NPV and equivalent annual cost
11:00–11:30Coffee break
11:30–11:45NPV and equivalent annual cost (continued)
11:45–12:53Sensitivity
12:53–14:00Exercise

Day 4Reliability Effects

09:00–10:08Availability and downtime
10:08–11:00Spares
11:00–11:30Coffee break
11:30–11:45Spares (continued)
11:45–12:53Risk
12:53–14:00Case study

Day 5Decisions

09:00–10:08Option comparison
10:08–11:00Replacement timing
11:00–11:30Coffee break
11:30–11:45Replacement timing (continued)
11:45–12:53Reporting
12:53–14:00Action plan

The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.

Dates & venues

Find a session that works for you.

Confirmed dates accept registration requests. Tentative dates are enquiry only.

Good to know

A few things to know.

How is the course delivered?

Our classroom programmes combine facilitated discussion, case studies, exercises and reflection. The precise format will be confirmed before enrolment.

Can you deliver this programme for our team?

Yes, you can enquire about a tailored programme. Share your goals, group size and preferred dates with our learning team.

Will I receive a certificate?

Participants who complete the programme receive a Smart Horizon UK certificate of attendance. Smart Horizon UK programmes are not externally accredited and do not award a professional qualification, licence or designation. Where a course title or outline refers to a professional certification (for example, AACE International's Certified Cost Professional), the programme supports learning and preparation only; the credential itself is awarded solely by the relevant professional body under its own application and examination requirements.

What should I confirm before booking travel?

Please confirm the session, exact venue, accessibility arrangements, fees and any visa requirements with the team before arranging travel. Tentative dates are not confirmed sessions.

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