Bouachera, T; Kishk, M and Power, L (2007) Towards a generic framework for whole life costing in the oil industry. In: Boyd, D (ed.) Proceedings of 23rd Annual ARCOM Conference, 3-5 September 2007, Belfast, UK.
Abstract
There have been a number of endeavours to establish and implement the whole life costing (WLC) technique in several industries. Many researchers recognize that the lack of readily available WLC data constitutes the most important barrier that inhibits its successful practical implementation. Data breakdown structure plays, therefore, an important role in promoting the adoption of WLC. These arguments are especially true for oil and gas assets in which operation, maintenance and support activities represent the bulk of their whole life costs. This paper focuses on addressing this limitation by discussing the suitability of incorporating integrated logistics support (ILS) with WLC. This Paper is first in a series to report an on-going PhD project to develop a generic framework for whole life costing applications in the oil industry. The main issues inherent to the development of this framework have been considered. Firstly, a literature review covering the WLC and ILS techniques are carried out. Then, the necessity of including these techniques into current oil and gas asset management practice is discussed. Finally, directions for future research are introduced.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | cost breakdown structure; integrated logistics support; oil and gas assets; whole life costing |
| Index terms: | implementation, suitability, oil and gas, whole-life costing, asset management, literature review, whole life cost |
| Subjects: | industry analysis, design criteria, occupational health, financial analysis, asset management, contractual arrangements, data analysis and analytics |
| Topics: | Procurement, Research Practice, Health and Safety, Business Strategy, Cost Management, Design Practice |
| Descriptive scope: | 3 PCA |
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