217-Life Cycle Costing with Paul Daoust

Life Cycle Costing with Paul Daoust

It’s a pleasure for me to have Paul Daoust back again to talk about life cycle costing. Paul is the founder of Scio Asset Management, with over 25 years of experience in the asset management field. He also sits on the board of directors at PEMAC.

Together, we’ll be taking a closer look at:

What life cycle costing is and why it’s necessary
Formulas for calculating it
Who’s in charge of the process
How to get management to approve the initial investment necessary

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86 – Life Cycle Costing with Fred Schenkelberg

Life Cycle Costing with Fred Schenkelberg

There are a lot of organizations who buy systems that cost less initially because of limited budget or due to a number of other reasons. They never even bother to bring in the financial or operations experts to get more information from the suppliers about the equipment they are going to purchase. Does it perform all the functions we need? Does it have that built-in reliability mechanism? Will it serve the purpose even? They don’t ask these questions because the initial buying cost is less or fits in with the budget. This is a mistake that leads to expensive maintenance later on.
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