Case Product Calculation: Aircraft Life Cycle Cost
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Questions and Answers

What is the main limitation of the costing models mentioned in the text?

  • They only focus on estimating manufacturing costs
  • They require an immense amount of information
  • They cannot be applied to other stages of the product life cycle (correct)
  • They do not consider the nature of the problem

    • Why has no single life cycle cost model been widely accepted as a standard according to the text?

  • The nature of the problem is too complex
  • There are different cost collection systems
  • There are many different types of systems
  • All of the above (correct)

    • How does life cycle assessment typically obtain information according to the text?

  • By using estimated, calculated and literature-based information (correct)
  • By using only historic maintenance and operational data
  • By optimizing value for money in the ownership of physical assets
  • By collecting vast amounts of measurement data

    • What was the primary source of data used in the research on life cycle cost analysis of machining equipment mentioned in the text?

    <p>Historic maintenance and operational data of the same and similar machines</p> Signup and view all the answers

    What is the key requirement for the successful implementation of life cycle cost (LCC) analysis?

    <p>Accurate, relevant and speedy information</p> Signup and view all the answers

    What is the main challenge mentioned in the text regarding life cycle modelling?

    <p>Collecting an immense amount of information on different stages of the process life cycle</p> Signup and view all the answers

    Which of the following is NOT cited as a reason why no single life cycle cost model has been widely accepted as a standard?

    <p>Lack of user interest</p> Signup and view all the answers

    What was the primary basis for estimating future costs in the research on life cycle cost analysis of machining equipment mentioned in the text?

    <p>Cost history of the same and similar machines</p> Signup and view all the answers

    What is the main purpose of life cycle cost (LCC) analysis?

    <p>To optimize value for money in the ownership of physical assets</p> Signup and view all the answers

    What is the main limitation of using estimated, calculated and literature-based information in life cycle assessment according to the text?

    <p>It is impossible to produce vast amounts of measurement data</p> Signup and view all the answers

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