Life Cycle Costing & Analysis

Life Cycle Costing & Analysis

Strategy optimisation is a continual process requiring diligent commitment to measuring asset performance against organisational goals. These measures enable a business to identify, risk assess and monitor changes to the maintenance plan that will increase overall asset value.

Assets are generally supplied with a list of OEM-recommended maintenance tasks at designated intervals which can be turned into a form of a basic maintenance strategy.

The OEM may intimately understand the ideal maintenance frequency for their equipment, however local factors such as operational environment, maintenance execution quality, planning/scheduling requirements and asset availability windows mean that adjustments may be necessary to optimise the maintenance strategy for the specific operation.

Ensuring there is an achievable strategy in place from zero hour is important to an operation’s success, however ensuring that the strategy is periodically reviewed and aligned to organisational goals is critical to ensuring the optimal strategy is employed.

In addition to greenfield sites requiring initial strategy development, Bluefield assist mature organisations to refine their existing strategies by using proven input factors such as;

  • Emerging performance trends;
  • Recurring failure points;
  • Component life cycle performance;
  • Condition monitoring;
  • Changes in technology;
  • Economic conditions;
  • Operational requirement changes; and
  • Actual equipment performance.

Hence, Asset Strategy Optimisation is not a one-time event and must be completed regularly as input factors and underlying assumptions change over the life of the site. Additionally, the review process employed by Bluefield identifies site-specific operational and environmental impacts outside of the scope of the OEM, which are then worked back into the strategy to ensure all aspects are considered.

Bluefield specialises in strategy optimisation for mobile and fixed assets by combining the collective site-specific knowledge and data with industry experience to develop customised Life Cycle Costing (LCC) Models. LCC modelling allows the customer to compare and evaluate the value of alternative strategies against a determined baseline developed with an agreed set of assumptions.

The final selection and implementation of the optimum strategy then allows maintenance execution teams to achieve their operational goals such as increased availability, financial savings or risk reduction. Bluefield strategy optimisation considers input factors such as:

  • Task criticality
  • Task labour density
  • Task concurrency
  • Task and component substitution
  • Equipment substitution and
  • Additional environmental factors

Strategy optimisation using LCC modelling is a critical component of site continuous improvement, and when used in conjunction with whole-of-life planning, provides the framework to achieve the organisation’s objectives. The LCC model develops the road map to execution excellence but actual performance requires diligent focus on measurement and review to adjust for new information and changing site factors.

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