Life-Cycle Costing - A Research Model
In this special double interview, Dr Paul Baguely, Research Fellow in Cost Engineering at Cranfield University and Peter Okafor, Head of the Department of Quantity Surveying at the Federal Polytechnic of Ogun State, Nigeria, join Oil and Gas IQ to discuss Life-Cycle Costing (LCC) in Shutdowns and Turnarounds.
They outline the current challenges that oil refineries face with regards to technology and how LCC methodology can help them overcome these challenges. Next they talk about the life-cycle cost breakdown structure (CBS) and how it can help those within the industry. Finally, they offer their thoughts on what those working outside of the oil industry can take away from their research.
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