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7. COST
Life cycle costing
Looking at the cost of whole life of the…
7. COST
- Life cycle costing
Looking at the cost of whole life of the product (include maintenance)
- Value analysis (value engineering)
Looking at less costly way to do the same work within the same scope
- Law of Diminishing Returns
E.g. adding twice resource to task may not get the task done in half cost/time