Life Cycle Costing
Many projects are unable to meet their desired level of system performance due to the lack of robust life cycle cost planning. Through our extensive involvement with commercial and Defence projects, Nova’s engineering staff have witnessed many instances where failure to properly assess life cycle costs has subsequently lead to significant increases in the cost of ownership, or the failure of a project to deliver the desired level of capability.
Nova has a high level of demonstrated performance in providing life cycle cost assessments. Involvement with the Armed Reconnaissance Helicopter project saw staff from Nova review the available spares, and their corresponding reliability data, alongside the logistics infrastructure for maintenance to determine the impact on capability readiness, and subsequent flow through effects to Performance Based Logistics KPI’s such as aircraft availability, demand satisfaction and training. Using the outputs of the OPUS model, Nova life cycle cost analysts developed MATLAB applications and were able to determine the likely level of aircraft availability across a geographically dispersed fleet. Further, we have undertaken detailed analysis of reliability data to assess fleet availability rates of the Multi Role Tanker Transport aircraft.
Determining how many spares to buy, when to buy, and where they should be stored to support a level of capability, is a difficult question to answer, However, at Nova, we have skilled practitioners in life cycle cost analysis who have a proven track record in helping projects procure the right amount of spares to deliver maximum capability for the optimum financial outlay.