Life-Cycle Costing: Using Activity-Based Costing and Monte by Jan Emblemsvåg

By Jan Emblemsvåg

Life-Cycle Costing (LCC), a value projection procedure often linked to engineering, allows the exact prediction of the full bills a product will incur all through its life-cycle. Meshing this method with activity-based costing, hazard administration, and Monte Carlo analytical tools, Jan Emblemsvåg bargains a wide diversity of companies a brand new, better method of rate administration in Life-Cycle Costing.
By introducing uncertainty into its versions, "Activity-Based LCC" deals managers the readability of hindsight ahead of charges are literally incurred. between different positive factors, Life-Cycle Costing includes:

* 3 case reviews that reveal how Activity-Based LCC presents improved rate management
* A step by step advisor to LCC methodology
* Definitions of key terms
* A dialogue of activity-based costing and probability administration fundamentals
* An appendix with examples of Monte Carlo methods

Life-Cycle Costing presents controllers and price managers an insider’s examine the subsequent iteration of expense administration techniques.

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Extra resources for Life-Cycle Costing: Using Activity-Based Costing and Monte Carlo Methods to Manage Future Costs and Risks

Example text

24. N. ” Harvard Business Review 80, March 3, 2002, pp. 42—49. 25. D. ” Journal of Management Accounting Research 7, Fall 1995, pp. 148—166. 26. ” The Economist 356 (8179, 2000), p. 65. 2 BASICS OF LIFE-CYCLE COSTING A cynic is one who knows the price of everything and the value of nothing. Oscar Wilde Before we start thinking about Life-Cycle Costing (LCC), a very basic concept must be clarified, namely the life cycle, and that is the topic in this chapter. After that, the purpose of LCC is discussed followed by a discussion on what cost is, because many people confuse cost with expense and even cash flow.

3 That the customer perspective also incorporates the most costs is probably more often the case in relation to infrastructure than in relation to any other type of produce or service. ”4 The three perspectives only consider “private” costs, that is, costs that directly impact a company’s bottom line. The societal perspective, however, includes those activities (and associated costs) borne by society, such as: ● ● Disposal Externalities (see Glossary) Concerning disposal costs, the trend now internationally is that they are becoming the cost of the manufacturer or the user.

36—41. 22. G. E. ” Harvard Business Review, September-October, 1985, pp. 142—150. 23. A. ” Advances in Fuzzy Sets, Possibility Theory, and Applications, ed. P. Wang. New York: Plenum Press, 1983. 24. N. ” Harvard Business Review 80, March 3, 2002, pp. 42—49. 25. D. ” Journal of Management Accounting Research 7, Fall 1995, pp. 148—166. 26. ” The Economist 356 (8179, 2000), p. 65. 2 BASICS OF LIFE-CYCLE COSTING A cynic is one who knows the price of everything and the value of nothing. Oscar Wilde Before we start thinking about Life-Cycle Costing (LCC), a very basic concept must be clarified, namely the life cycle, and that is the topic in this chapter.

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