Workflow

This workflow describes the process for developing a Life Cycle Cost Analysis to compare costs through various scenarios.

In the following workflow diagram, the blue text in a shape indicates that a corresponding description has been provided in the sections that follow the diagram.

Persona: Analyst

Define the LCC Analysis, duration, and financial model to be applied to the analysis.

Persona: Analyst

Assemble team members to perform an LCC.

Persona: Analyst

Create reference documents to associate files or websites with a record in the GE Digital APM database.

Persona: Analyst

Find, select, and open a previously created analysis via the LCC Module Overview page. For a baseline test, this will be the analysis created in step A1.

Persona: Analyst

Develop a new scenario for the first scenario. A new scenario will form the best current projection of future asset usage over the defined period of the analysis.

Persona: Analyst

Develop the operating profile for the analysis by defining operating usage through each defined period.

Persona: Analyst

Create Primary and Secondary Elements for the Scenario. Elements can be linked to assets or locations taken from the hierarchy, but this is not mandatory as required elements may not always exist in the hierarchy. Secondary Elements may also be added from previously created Asset Groups.

Persona: Analyst

Categorize each element of cost data within the scenario. Basic categories are provided by default, but others may need to be added. Operating Costs may then be added manually or imported for each element.

Persona: Analyst

Allocated resources used in operating and maintaining an asset in the scenario. This may include humans, tools, facilities, insurance, etc.

Persona: Analyst

Review all added or imported data in the scenario for accuracy and completeness. Amend and update the data as needed.

Persona: Analyst

Alternative scenarios will usually be variations of a previously created scenario. Time can be saved by copying a scenario, and then modifying the copied scenario needed.

Persona: Analyst

Using the various charts provided, analyze the results of the analysis. Compare costs for each scenario according to the displayed categories. Create additional scenarios as needed until an optimum scenario for minimizing life cycle costs for the analysis has been determined.

Persona: Analyst

Change the state of the LCC to Completed, making the analysis read-only.