Evaluation of Life Cycle Cost Analysis Methodologies

Transcription

1 Life Cycle Cost Analysis Evaluation of Life Cycle Cost Analysis Methoologies Senthil Kumaran Durairaj, S.K. Ong, A.Y.C. Nee an R.B.H. Tan* After the emergence of Life Cycle Engineering as an effective tool for analyzing the various environmental impacts of a prouct in the stages of esignyevelopment, manufacturing, service an isposal, a necessity arises to analyze the cost information pertaining to these impacts. There are possibly many approaches to analyze an evaluate the cost criteria involve in the ifferent life cycle stages of any prouct or investment. This paper attempts to review many of those approaches methoologically, an specifically outline a practical framework that provies a new tool for evaluating all the eco-costs an eveloping a cost effective eco-esign of any prouct Elsevier Science Inc. All rights reserve. Senthil Kumaran Durairaj, born in Tamilnau, Inia. Grauate in Prouction Eng. (1988) an Masters in Inustrial Eng. (1993) from PSG College of Technology, Inia. Almost 7 years of experience in teaching manufacturing engineering subjects an about 3 years of Inustrial experience. Presently, octoral researcher in Manufacturing Division at Department of Mechanical Engineering, NUS. Soh Khim Ong, Assistant Professor in the Manufacturing Division in the Department of Mechanical Engineering. Currently, the program manager for the Virtual Manufacturing Program in the Laboratory for Concurrent Engineering an Logistics (LCEL) in the Faculty of Engineering. Anrew Yee Ching Nee, Professor at the National University of Singapore, Department of Mechanical Engineering. Specialisation in manufacturing engineering an research fiels are computer applications in fixture an tooling esign, CAPP an setup planning, istribute manufacturing systems an rapi prototyping. Currently spening half time at National Science & Technology Boar as the Deputy Executive Director of the Science an Engineering Research Council. Tan Beng Hee, Reginal, Associate Professor in Department of Chemical an Environmental Engineering. Ph.D (Chem Eng.) Camb.1989; M.Eng. (Chem Eng.) NUS 1986; B.Eng. (Chem Eng.) Lonon Areas of interest Hyroynamics an Mixing in Gas Liqui Systems, Process Safety, Health an Environmental Protection. *Corresponing author: Faculty of Chemical Engineering, National University of Singapore, 10 Kent Rige Crescent, Singapore ; Tel.: q ; fax: q ; chetanbh@nus.eu.sg. Life Cycle Assessment (LCA) is a technique for assessing the potential environmental aspects associate with a prouct (or service) by compiling an inventory of relevant inputs an outputs, evaluating the potential environmental impacts associate with these inputs an outputs, an interpreting the results of 30 S.K. Durairaj et al., Corporate Environmental Strategy, Vol. 9, No. 1 (2002) /02/$ - see front matter Elsevier Science Inc. All rights reserve.

2 the inventory an impact phases in relation to the objectives of the stuy. LCA has three essential imensions: The Life Cycle Stages: This is the physical sequence of unit processes across the life cycle. Analysis of Multiple Environmental an Resource Issues: LCA is not just a singleissue tool; it consiers the traeoffs across many environmental concerns. Assessment: LCA extens beyon the quantitative analysis to a point where an evaluation or jugment is mae. At its simplest, this may be a statement of what is better an what is worse. 9 LCA has three components, namely inventory analysis, impact analysis an improvement analysis. Inventory analysis is a technical, ata intensive process of quantifying energy an raw material requirements, atmospheric emissions, waterborne emissions, soli wastes, an other releases for the entire life cycle of a prouct, package, process, material, or activity. Qualitative aspects are best capture in impact analysis, although it coul be useful uring the inventory to ientify these issues. In the broaest sense, inventory analysis begins with raw material extraction an continues through final prouct consumption an isposal. 11 The impact analysis component is a technical, quantitative, anyor qualitative process to characterize an assess the effects of the resource requirements an environmental loaings (atmospheric an waterborne emissions an soli wastes) ientifie in the inventory stage. This analysis aresses ecological an human health impacts, resource epletion, an possibly social implications such as welfare. Life cycle impact analysis oes not necessarily attempt to quantify any specific actual impacts associate with a prouct or a process. Instea, it seeks to establish a linkage between the prouct or process life cycle an potential impacts. The improvement analysis component of LCA is a systematic evaluation of the nees an opportunities to reuce the environmental burens associate with energy an raw material use, an waste emissions throughout the life cycle of a prouct, process or activity. This analysis may inclue quantitative an qualitative measures of improvements. It has not unergone much research as compare with the other two components of LCA. The concept of LCA may be extene to incorporate the costs of the impacts mae by the environmental burens. This extension opens new avenues for an ecofrienly or green prouct evelopment that is essentially a cost effective one. Introuction to Life Cycle Cost Analysis Early implementation of cost analysis moels influences the esign changes of the prouct an provies explanations of the relationships between cost an esign parameters. They contribute to cost reuction by ientifying high cost contributors. However, there are many features of a prouct that can be stuie using a Life Cycle Cost Analysis (LCCA) moel. The combination of rising inflation, reuction in purchasing power, buget limitations, increase competition, etc., has create an awareness an interest in the total cost of proucts, systems an structures. Not only the acquisition costs associate with new systems, e.g. quality management systems an environmental management systems, are rising, the costs of operating an maintaining systems alreay in use are also increasing rapily. Early implementation of cost analysis moels influences the esign changes of the prouct«w1x The application of LCC methos uring prouct an system esign an evelopment is realize through the accomplishment of Life Cycle Cost Analysis (LCCA). LCCA may be S.K. Durairaj et al., Corporate Environmental Strategy, Vol. 9, No. 1 (2002) /02/$ - see front matter Elsevier Science Inc. All rights reserve.

3 efine as a systematic analytical process for evaluating various esigns or alternative courses of actions with the objective of choosing the best way to employ scarce resources. The ultimate objective of the LCCA of any prouct is to provie a framework for fining the total cost of esigny evelopment, prouction, use an isposal of the prouct with an intention of reucing the total cost. 7 With the help of this review ecision makers can unerstan the various LCCA methoologies«w2x There are many choices in the selection of a preferre approach for the etermination of the total cost of a prouct, pertaining to its entire life cycle. More elaborate approaches with various ifferent areas of scope have been ientifie. In respective contents, these approaches have emerge to aress specific problems. Each approach aims to etermine the total cost with reference to ifferent methoologies an valiate by suitable case stuies. They are liste an reviewe in the next section. Existing Cost Moels for Life Cycle Cost Stuies Asieu an Gu 1 ha one a state-of-the-art review on the prouct life cycle cost analysis. It attempts to look at the issues of LCC analysis an tools that have been evelope to provie engineers with cost information to guie them in esign. It elaborates many of the cost estimation moels an attempts to review some cost moels conventionally. However, the methoological review presente in this paper inclues the following specific cost moels on the basis of their frameworks, methoology an limitations. An attempt has been mae to evolve a generic unerstaning of several prominent life cycle cost moels. A propose new moel, which gives importance to eco-costs throughout the life cycle of a prouct, has been highlighte. This review is presente in two stages. In the first stage of the review the methoologies of the existing moels are analyze. Seconly, elemental features of each moel are compare. This is important because although existing moels follow the life cycle costing concept, they iffer in their approaches. Table 1 gives the etails of this comparison. The following assumptions have been mae uring comparison: 1. Only a relative comparison has been mae. 2. Only elemental features pertaining to the selecte LCCA moels are compare. 3. Emphasis has been given to features that are relate to eco-frienly esign an manufacturing concept. The selection of these elemental features is base on their primary importance in the evelopment of a holistic LCCA moel. The graes aware in this comparison are efine on the basis of the escription an efficacy of a feature in a particular moel, an also the relative comparison with the same feature in the other moels. Grae A or NA enotes the availability of any feature. The most efficient feature is aware an E grae an an optimally efficient feature is aware a G grae. The allocation of graes purely reflects the authors own view on the basis of their review. With the help of this review ecision makers can unerstan the various LCCA methoologies an possibly select the respective metho which is the most suitable for their company on basis of the elemental features available. The moels reviewe are: LCCA moel of Fabrycky an Blanchar 7 LCCA moel of Woowar 13 LCCA moel of Dahlen an Bolmsjo 5 Activity Base Costing (ABC) moel 2 Economic Input-Output LCA moel 3 32 S.K. Durairaj et al., Corporate Environmental Strategy, Vol. 9, No. 1 (2002) /02/$ - see front matter Elsevier Science Inc. All rights reserve.

4 S.K. Durairaj et al., Corporate Environmental Strategy, Vol. 9, No. 1 (2002) /02/$ - see front matter Elsevier Science Inc. All rights reserve. Table 1 Comparison of existing LCCA methoologies No Features LCCA LCCA LCCA ABC EIO-LCA DOC PLCCA TCA LCECA (Fab. & Bla.) (Woo.) (Dahlen) Moel Moel Moel Moel Moel Moel 1 Objective Cost LCC of LCC of Cost EIO Cost LCC TC Eco- Alternates assets labor Ren. analysis Evaln. estimates calculation esign 2 Ientification of alternatives A A A A NA A NA NA A 3 Development of CBS & CBRs E E E E G G G A E 4 Ientification of suitable cost moel E G G E A A A A E 5 Generation of cost estimates E E E E NA A NA A G 6 Availability of cost profiles G A A A NA A NA NA G 7 Break Even Analysis A A A A NA NA NA NA A 8 Determination of High Cost contributors A NA NA A A NA NA NA A 9 Total Cost Determination A A A A A A A G A 10 Incorporation of Eco-costs NA NA NA NA NA NA A NA G 11 Correlation with Design changes NA NA NA A NA A A NA A 12 Implementation of a Design solution NA NA NA A NA A A NA A 13 Quality Aspects NA NA NA NA NA A E NA NA 14 Inclusion of Supplier Relationships NA NA NA NA E NA NA A A 15 Trae offs NA E NA A A A A A A 16 Employment cycles NA NA E NA A NA NA A NA 17 Sensitivity Analysis A A A A NA NA NA NA A 18 Risk Analysis A A A A NA A A NA A 19 De-manufacture concept NA NA NA A NA A A NA A 20 Any special feature Holistic Asset Human Uncertainty Lca Pro. Reesign For Ecomoel moel factor upgran sys.es. projects esign A, available; NA, not available; G, goo; E, excellent. Life Cycle Cost Analysis

5 Design to Cost Moel 6 PLCCA to Manufacturing System 12 Total Cost Assessment (TCA) Moel 10 LCCA Moel of Fabrycky an Blanchar Fabrycky an Blanchar 7 presente a sophisticate LCCA moel to aress etaile cost analysis of all the costs concerne with the entire life cycle of any prouct. The superiority of their moel lies in its etaile cost break-own structure (CBS). Primarily, they ivie the total cost of a prouct or a system into four categories, namely: research an evelopment costs; prouction an construction costs; operation an maintenance costs; an retirement an isposal costs. Next, they sub-ivie each cost into relevant incremental costs. The basic steps in a typical LCCA moel are illustrate in Figure 1. This moel comprises of all the basic essential features of a holistic methoology to analyze the life cycle as well as etermine the total cost of any prouct. This moel may be implemente to aress a wie variety of problems at ifferent stages of the systemyprouct life cycle. It is applicable in all phases of system esign, evelopment, prouction, construction, operational use an logistic support. Cost emphasis is create easily in the life cycle by establishing quantitative cost factors as esign to requirements. It can be effectively utilize to assess the capability of an existing system by ientifying high-cost contributors an costly problem areas. The accomplishment of life cycle cost analysis is iterative, ongoing an must be tailore to the specific applications. For example, toay s environmental concerns may exten this moel to inclue environmental costs into its cost breakown structure because of its generality with usual steps to be followe, regarless of applications. Figure 1 LCCA Methoology. 7 LCCA Moel of Woowar This moel emerge from the objective of essentially planning an monitoring assets 34 S.K. Durairaj et al., Corporate Environmental Strategy, Vol. 9, No. 1 (2002) /02/$ - see front matter Elsevier Science Inc. All rights reserve.

6 throughout their entire life cycle from the evelopmentyprocurement stage through to isposal. This moel is concerne with optimizing the value for money in the ownership of physical assets by taking into consieration all the cost factors relating to the assets uring their operational life. Optimizing the trae-off between these cost factors will give the minimum life cycle cost of the asset. This process involves an estimation of costs on a whole life basis before making a choice to purchase an asset from the various alternatives available. This approach encourages a long-term outlook to the investment ecision-making process. «a LCCA is primarily use when quantifying the costs of a prouction system«w3x LCC formulation involves the selection of an appropriate methoology. This formulation comprises of eight steps. They are: 1. Establishment of operation profiles (OP): This escribes the perioic cycle through which the equipment will operate an also when it will not be working. 2. Establishment of utilization factors: These factors inicate in what way the equipment will be functioning within each moe of the OP. 3. Ientification of all the cost elements. 4. Determination of the critical cost parameters: These are factors that control the egree of the costs incurre uring the life of the equipment. 5. Calculation of all costs at current prices. 6. Escalation of current costs at assume inflation rates. 7. Discounting of all costs to the base perio: By consiering the time value of the money, cash flows occurring in ifferent time perios shoul be iscounte back to the base perio to ensure comparability. 8. Summing up iscounte cost to establish the net present value (NPV). This LCCA moel aims at enabling investment options to be more effectively evaluate consiering the impact of all costs, rather than only initial capital costs, assisting in the effective management of complete builings an projects, an facilitating choice between competing alternatives. 13 This LCCA moel aims specifically to optimize the total costs of asset ownership, by ientifying an quantifying all the significant net expenitures that arise uring the ownership of an asset. By examining trae-offs between ifferent cost areas, it attempts to ensure an optimum selection, use an replacement of physical assets. However, its success epens upon accurate, relevant an speey information. This LCCA restricts itself with the optimization of the value of money in asset ownership. LCCA of the Labor Factor Generally, a LCCA is primarily use when quantifying the costs of a prouction system from the perspective of the life cycle of investments in prouction equipment or in prouct evelopment. However, this LCCA moel intens to wien the fiel of application, an carry out an analysis of investments one when raising the prouction factor namely, labor. It covers the cost of an employee over the whole employment cycle, i.e. from recruitment until retirement. The costs of labor can be graphe in a way similar to the costs over the life cycle for prouction equipment. These costs are ivie into three basic categories. They are given below, along with their classification. 1. Employment costs Recruitment costs Aitional (surplus) prouction costs Eucation costs 2. Operation costs Wages Overheas 3. Work environment costs S.K. Durairaj et al., Corporate Environmental Strategy, Vol. 9, No. 1 (2002) /02/$ - see front matter Elsevier Science Inc. All rights reserve.

7 Costs of absence Sickness benefits Rehabilitation costs Disability pension costs To improve the control over the values, the costs must be groupe accoring to the original cause of the cost. Thereafter, all costs are allocate to the cost unit on a proper allocation basis. Cost rivers for labor-relate costs coul be labor hours, the number of employees, absenteeism, or the number of work injuries. This leas to an accounting metho where the costs are relate to activities on a wier allocation basis, which inclue a number of cost rivers. 5 The focus on the labor relate costs in the LCCA for a prouction system wiens the fiel of application to inclue vital inustrial ecisions also. Activity Base Costing Moel In orer to provie an efficient an effective ecision support in life cycle esign, costing methos shoul have the capability to hanle uncertainty. Activity Base Costing (ABC) moel has the best potential for effective cost assessment in the context of life cycle esign. When ealing with environmental issues, uncertainty must be inclue ue to the preominant lack of har ata. In situations where there is lack of information an the presence of unexpecte activities, uncertainty conitions have to be use in this moel. The evelopment of an ABC moel consists of six steps 2 namely: 1. Creation of an activity hierarchy an network that will ensure that all the activities in the part of the life cycle are consiere. 2. Ientification an orering of all the necessary cost rivers an consumption intensities. 3. Ientification of relationships between cost rivers an esign changes. 4. Determination an minimization of the cost of the consumption activities, that use an optimization algorithm where the esign parameters serve as the source variable an the total cost as the response variable. 5. Evaluating the solution. 6. Iterations, if necessary. ABC methos are relatively easier an provie clear methoology. This moel is generic, an can be applie whenever the activities are escribe in etail. The inclusions of uncertainty an the use of the Monte Carlo simulation in conjunction with the steps, provie the capability to ientify the process an prouct esign aspects that contribute most to the cost. However, ABC methos for the assessments of environmental impacts have yet to be evelope. When the use of an ABC approach can overcome the ifficulties of a conventional LCA, an activity-base LCA can be easily performe. Current LCA methos have several limitations, such as choice of system bounaries, «. high cost an time. Economic Input Output LCA Moel Current LCA methos have several limitations, such as choice of system bounaries, lack of comprehensive ata, moeling of a new process, an high cost an time. The choice of the system bounaries is most vital, consiering that each inustry is irectly or inirectly epenent on all other inustries. This Economic Input Output LCA (EIO LCA) is a new tool 3 that can complement conventional LCA an overcome its limitations. The objective is to augment conventional economic input-output tables with appropriate sectore environmental impacts inices, which are then use to analyze economywie, irect an inirect environmental impacts of changes in the output of selecte inustries. This moel represents all the sup- 36 S.K. Durairaj et al., Corporate Environmental Strategy, Vol. 9, No. 1 (2002) /02/$ - see front matter Elsevier Science Inc. All rights reserve.

8 plier relationships in the supply chain for inustrial prouction. Its application was shown to be feasible, rapi an inexpensive. Prouct EIO LCA hybri moel incorporates etaile information on proucts into the aggregate input-output analysis. It preserves the general equilibrium nature of EIO-LCA while offering the chances to appen etaile ata on the environmental ischarges, energy use, an purchases from other sectors for a specific prouct. It offers the ability to examine a prouct an suppliers in etail an so provies calculations of all of the inirect economic activity an environmental ischarges. Despite the avantages of EIO LCA, it suffers from the limitations of highlevel aggregation in national input-output tables an these moels can interpret the environmental impacts of proucts in cumulative cost terms only. Other Available Moels Design to Cost (DTC) moel 6 for prouction systems present a generic methoology to combine cost moeling an Quality Function Deployment (QFD) in orer to assess the potential trae-offs between the cost an performance of competing prouct alternatives at the early stage of the prouction system esign. Design-to-Cost methoology has a proceure to select a system esign. This proceure is ivie into the following functions: Derivation of system performance Evaluation of system costs Presentation of results an Decisionmaking Every function is carrie out by its appropriate moule namely Performance, Cost, an Conclusion moules. This methoology utilizes the generic moules for the optimization of the integrate prouct an process esign with respect to the trae-off between costs an performance at the early esign stages. A Prouct Life Cycle Costing (PLCC) moel 12 to calculate the life cycle costs of capital goos such as machines an manufacturing systems is presente to anticipate life cycle costs. In this PLCC metho, single processes connecte to the prouct s life cycle are represente. With an aim to the reesign of current prouct structures, it is possible to erive approaches from the cost structures of the life cycle. The prouct life cycle has the main stages namely prouction, usage an isposal or e-prouction. Cost reuctions in the ifferent life cycle stages are achieve through a prouct conception irecte towars the nees of the use phase. Similar epenency arises in the isposal phase. Ultimately, LCECA aims to reuce the total cost with the help of green or eco-frienly alternatives«w5x Total Cost Assessment (TCA) moel 10 emerge as the most useful an practical tool for small manufacturers. It provies a streamline approach to ientify an quantify costs of pollution prevention investments. It expans the scope of capital bugeting to inclue inirect benefits; thus increasing the magnitue of savings erive from pollution prevention investments. Information requirements of TCA can be easily implemente in the small business scenario. Propose Life Cycle Environmental Cost Analysis Moel The objective of the Life Cycle Environmental Cost Analysis (LCECA) moel is to inclue eco-costs into the total cost of the proucts. Subsequently, this moel ientifies the feasible alternatives for a cost effective, ecofrienly esign of proucts. Ultimately, it aims to reuce the total cost with the help of green or eco-frienly alternatives in all the stages of the life cycle of any prouct. A new generic cost structure has been aitionally inclue with the CBS of the above- S.K. Durairaj et al., Corporate Environmental Strategy, Vol. 9, No. 1 (2002) /02/$ - see front matter Elsevier Science Inc. All rights reserve.

9 mentione moel. This new category of ecocosts inclues: Cost of effluent control; Cost of effluent treatment; Cost of effluent isposal; Cost of implementation of environmental management systems; Costs of eco-taxes; Costs of rehabilitation; Costs of energy; an Cost savings of recycling an reuse strategies. The methoology of LCECA is given in Figure 2. As a first step, any prouct from a particular prouct family can be selecte. Then, a isassembly of the prouct will be performe. For every part, a cost car will be prepare. This car consists of all the cost etails pertaining to that part. Development of a suitable cost moel an the ientification of the feasible alternatives are performe simultaneously. On the basis of the calculate environmental impact inices (EII), priorities will be mae for the selection of suitable alternatives. The CBS of LCECA inclues the above liste eco-costs. Each of the eco-cost categories will have a efinite cost relationship. After the CBS efinition, the LCECA moel for facilitating the life cycle environmental economic evaluation is evelope. It can be use for evaluating eco-costs of the overall prouct an the iniviual component requirements. It permits the moifications to be mae to incorporate aitional capabilities by expaning certain facets of the CBS. The mathematical moel of LCECA 14 aims to efine the relationships between the total cost of proucts an the various eco-costs concerne with the life cycle of the proucts, an etermine quantitative expressions between the above sai costs. This moel can correlate the various eco-costs with the total cost. It has been converte into a computational moel, with break-even, sensitivity an risk analyses moules. Figure 2 Flowchart of the evelope LCECA 14. A case stuy, namely Packaging materials has been selecte an LCA of the same has been carrie out using Streamline LCA (SLCA) principles. 4 Its outputs are use as the inputs for the computational moel of LCECA. Environmental Impacts that are pertaining to the manufacturing phase of the life cycle of the packaging materials are only analyse. Data sources with high an meium quality are use. Cumulative cost esti- 38 S.K. Durairaj et al., Corporate Environmental Strategy, Vol. 9, No. 1 (2002) /02/$ - see front matter Elsevier Science Inc. All rights reserve.

10 mates of all the eight eco-cost categories are only applie. The cost values use are relative in nature. The mathematical moel of LCECA solve by the software LIMDEP 7. 8 Relationships between the total cost of the prouct an all eight eco-costs are foun. Significance of each category of the ecocost has been unerstoo. Same kin of relationships can be foun with suitable alternatives so that comparison can be mae. Probable alternates are suitably combine to recommen less eco-cost an more ecofrienly prouct. Conclusion The existing life cycle cost moels have been reviewe in this paper in a etaile way. Though their objectives vary from each other, their goal is the same, intening to reuce the total cost of a prouct or a system or an asset or human factors such as labor. This is the reason for a feature comparison base on the elemental features of the selecte moels in this review. It is not feasible to evelop a unique LCCA moel, which suits all the requirements. However, it is possible to evelop more elaborate moels to aress specific nees such as an eco-frienly, costeffective prouct evelopment. Scope has been realize by the authors for merging the relevant features of the moels for betterment an a more escriptive LCCA that aresses multiple objective functions of the eco-frienly prouct evelopment. Ennotes 1. Y. Asieu, P. Gu, Prouct Life Cycle Cost Analysis: state of the art reviewinternational Journal of Prouction Research 36 (4) (1998) B. Bras, J. Emblemsvag, Designing for the Life Cycle: Activity Base Costing an Uncertainty, in Design for X, Concurrent Imperatives, Chapman & Hall, UK, E. Cobas, C. Henrickson, L. Lave, F. Mc- Michael, Life Cycle Analysis of Batteries using Economic Input Output Analysis, Proceeings of IEEE International Symposium on Electronics an Environment, Dallas, USA, (1996) M.A. Curran, Environmental Life Cycle Assessment, McGraw Hill, New York, P. Dahlen, G.S. Bolmsjo, Life Cycle Costing Analysis of the Labor factorinternational Journal of Prouction Economics (1996) W. Eversheim, J. Neuhausen, M. Sesterhenn, Design to Cost for Prouction Systems- Annals of the CIRP 47 (1998) W.J. Fabrycky, B.S. Blanchar, Life Cycle Cost an Economic Analysis, Prentice Hall, Englewoo Cliffs, NJ, W.H. Greene, LIMDEP Version 7:User Manual, Econometric Software Inc., Plainview, NY, ISO 14040, Environmental Management Life Cycle Assessment Principles an framework, Paris, France, Pacific NW Pollution Prevention Resource Center (PPRC), Report on the Analysis of Pollution Prevention an Waste Minimization Opportunities using Total Cost Assessment: A case stuy in the Electronics Inustry, Seattle, WA, Unite States Environment Protection Agency, Life Cycle Assessment: Inventory guielines an Principles, Washington D.C, E. Westkamper, D. Osten-Sacken, Prouct Life Cycle Costing applie to Manufacturing SystemsAnnals of the CIRP 47 (1998) D.G. Woowar, Life Cycle Costing Theory, Information Acquisition an Application- International Journal of Project Management 15 (6) (1997) D. Senthil Kumaran, S.K. Ong, R.B.H. Tan, A.Y.C. Nee, Environmental Life Cycle Cost Analysis of ProuctsEnvironmental Health an Management 12 (3) (2001) 260. S.K. Durairaj et al., Corporate Environmental Strategy, Vol. 9, No. 1 (2002) /02/$ - see front matter Elsevier Science Inc. All rights reserve.