Day 1:
Foundations of Life Cycle Costing
Introduction to Life Cycle Costing: Definition, scope, and importance.
Key components of LCC: Acquisition, operation, maintenance, and disposal costs.
Overview of industry standards (e.g., ISO 15686).
Case study: Successful implementation of LCC in infrastructure projects.
Day 2:
Tools and Techniques for LCC Optimization
Data collection and analysis methods for accurate LCC modeling.
Using software tools for LCC calculations (e.g., Excel, specialized LCC platforms).
Sensitivity analysis and risk assessment in LCC.
Workshop: Build an LCC model for a hypothetical project.
Day 3:
Fundamentals of Value Engineering
Principles and history of Value Engineering.
The Value Methodology framework: Information, Speculation, Evaluation, Development, Presentation phases.
Functional analysis and FAST diagramming.
Group exercise: Conduct a mini VE study.
Day 4:
Integrating LCC and VE
Aligning LCC and VE for maximum impact: Synergies and challenges.
Balancing cost, performance, and sustainability in decision-making.
Best practices for stakeholder engagement and communication.
Real-world example: Redesigning a manufacturing process using LCC and VE.
Day 5:
Advanced Applications and Future Trends
Emerging trends in LCC and VE: Digital twins, AI, and predictive analytics.
Regulatory requirements and compliance considerations.
Action planning: Developing an LCC/VE roadmap for your organization.
Final Q&A and certification ceremony.
