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A framework for life cycle cost estimation of a product family at the early stage of product development

The, Jaya Suteja, Yarlagadda, Prasad K.D.V., Karim, Azharul, & Yan, Cheng (2013) A framework for life cycle cost estimation of a product family at the early stage of product development. Advanced Materials Research, 605-607, pp. 222-227.

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Abstract

A cost estimation method is required to estimate the life cycle cost of a product family at the early stage of product development in order to evaluate the product family design. There are difficulties with existing cost estimation techniques in estimating the life cycle cost for a product family at the early stage of product development. This paper proposes a framework that combines a knowledge based system and an activity based costing techniques in estimating the life cycle cost of a product family at the early stage of product development. The inputs of the framework are the product family structure and its sub function. The output of the framework is the life cycle cost of a product family that consists of all costs at each product family level and the costs of each product life cycle stage. The proposed framework provides a life cycle cost estimation tool for a product family at the early stage of product development using high level information as its input. The framework makes it possible to estimate the life cycle cost of various product family that use any types of product structure. It provides detailed information related to the activity and resource costs of both parts and products that can assist the designer in analyzing the cost of the product family design. In addition, it can reduce the required amount of information and time to construct the cost estimation system.

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ID Code: 54199
Item Type: Journal Article
Keywords: Life Cycle Cost, Cost Estimation, Product Family, Early Design Stage
DOI: 10.4028/www.scientific.net/AMR.605-607.222
ISSN: 1022-6680
Subjects: Australian and New Zealand Standard Research Classification > ENGINEERING (090000)
Australian and New Zealand Standard Research Classification > ENGINEERING (090000) > MANUFACTURING ENGINEERING (091000)
Divisions: Current > Schools > School of Chemistry, Physics & Mechanical Engineering
Current > Institutes > Institute of Health and Biomedical Innovation
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Copyright Owner: Copyright 2012 Trans Tech Publication Ltd
Copyright Statement: All rights reserved. No part of contents of this paper may be reproduced or transmitted in any form or by any means without the written permission of TTP, www.ttp.net. (ID: 117.211.91.3-09/10/12,12:16:54)
Deposited On: 17 Oct 2012 09:41
Last Modified: 29 May 2013 18:31

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