Engineering Economics of Life Cycle Cost Analysis

John FARR and ISAAC Faber

Engineering Economics of Life Cycle Cost Analysis


Book Companion Website

 Engineering has changed dramatically in the last century. With the advent of modern computing systems, instantaneous communication and extremely efficient supply chains the role of the engineer has changed. With today's globalization, technology, and complexity few engineers sit at a desk and design at the component level. This 21st  century paradigm has allowed engineers the opportunity to use their technical training and problem solving skills as points of departure into rapid prototyping and product development as well as other fields such as sales, law, medicine, and corporate leadership. The future will require systems that are more complex providing for increased opportunities for engineers to be business leaders first and engineers secondly. The marketplace will require employees at all levels that are both business and technically savvy. They must be able to develop accurate cost estimates and conduct meaningful cost analysis. Even at the component level engineers must conduct meaningful trade space analysis to make informed decisions. Engineers continue to be poised to for tremendous career opportunities, but the landscape will have different requirements of them. It is under this backdrop that we wrote this book.


Topics Covered

 Overview of Systems Life Cycle Costing

What is costing and why is it important to complex systems? Understand today's global landscape and the implications of finances on engineering decisions.

Costing and Managing Off the Shelf Systems

Integrating and understanding the impact of buying existing solutions.

Advanced Economic Analysis of Alternatives

How do you choose between competing alternatives when they are complex projects?

 Project Management’s Role in Life Cycle Costing

A big part of controlling costs during project management is understanding how they are estimated. 

 Simulation Based Costing

Modern tools and methods for developing cost estimates with uncertainity. 

 Use of Cost Metrics and Ratios

Building the right tracking and analysis tools to give you the best insight about a complex project.



Let's Chat.

Use the form below to contact us regarding any question you may have about the book. 

Name *
Please do not include confidential or sensitive information in your message. In the event that we are representing a party with opposing interests to your own, we may have a duty to disclose any information you provide to our client.