A DECISION-MAKING FRAMEWORK FOR EFFECTIVE MAINTENANCE MANAGEMENT USING LIFE CYCLE COSTING (LCC) IN A ROLLING STOCK ENVIRONMENT
Keywords:Decision Making, Life Cycle Costing, Maintenance Management
In this paper, a life cycle costing (LCC) framework for effective maintenance management is investigated and developed for use in a railway rolling stock environment. The framework consists of combining typical mission-critical components together with their failure and maintenance history. All costs related to the operation and maintenance of these components throughout their life cycle are also determined. The next step involves considering different scenarios under which the components can be used in relation to operations, maintenance, and replacements. The decision about which scenario to take is based on the one with the most favourable net present value after life cycle costing is performed over a specified period of time. A typical railway rolling-stock maintenance organisation in South Africa was used to highlight the practical implications of such a framework and how the company could make informed and appropriate decisions. The conclusion of this study is that such a framework is useful, and that it can be used as a basis for estimating LCC across a spectrum of critical assets found in the rolling stock environment.
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