Life Cycle Asset And Maintenance Management - Singapore

The total cost of ownership of an asset is often far greater than the initial capital outlay cost and can vary significantly between the different alternative solutions to an operational need. Consideration of the costs over the whole life of an asset provides a sound basis for decision-making. With this information, it is possible to:-

    Assess future resource requirements
    Uncover potential costs of potential acquisitions
    Decide between sources of supply
    Account for resources used now or in the past
    Improve system design
    Optimise operational and maintenance support, through more detailed understanding of input requirements over the expected life cycle
    Assess when assets reach the end of their economic life and if renewal is required