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Life cycle cost analysis on the operation of power generation
Sinisuka N.I.a, Nugraha H.a
a School of Electrical Engineering and Informatics, Bandung Institute of Technology, Indonesia
[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_separator css=”.vc_custom_1624529070653{padding-top: 30px !important;padding-bottom: 30px !important;}”][/vc_column_inner][/vc_row_inner][vc_row_inner layout=”boxed”][vc_column_inner width=”3/4″ css=”.vc_custom_1624695412187{border-right-width: 1px !important;border-right-color: #dddddd !important;border-right-style: solid !important;border-radius: 1px !important;}”][vc_empty_space][megatron_heading title=”Abstract” size=”size-sm” text_align=”text-left”][vc_column_text]The purpose of this paper is to study the life cycle cost (LCC) on the operation of power generation. LCC is the total cost of ownership including the cost of the project or asset acquisition, operation and maintenance, and disposal. LCC includes both deterministic costs (such as acquisition costs, improvement costs and disposal costs) and probabilistic (such as the costs of failure, repairs, spare parts, downtime, lost gross margin). Most of the probabilistic costs are associated directly with the reliability and maintenance characteristics of the system. To be able to analyze failure data using appropriate cost profile in order to represent the fact that each failure has different prices, in different time periods at an economical cycle the new methodology of LCCA Diagram is proposed. Developing criticality ranking of subsystem, calculating values of Weibull Shape Factor β and Weibull Characteristic Life η for each subsystem, calculating the time to failure of subsystem, calculating the mean time to failure of subsystem using Monte Carlo simulation, determining several alternatives, failure mode and effects analysis and root cause failure analysis are parts of the methodology. To give a sample of case study, the LCC on the operation of coal fired power plant (CFPP) 330 MW is analyzed. Five alternatives calculation of LCC will be simulated. Graph of cash flow, breakeven graph, and graph of cost/benefit versus risk made for a period of 30 years can be used to asses an effective management program and costs of power plant with a low risk. The paper suggests that LCC can be used to asses an effective management program and costs of power plant with a low risk. © 2013, Emerald Group Publishing Limited[/vc_column_text][vc_empty_space][vc_separator css=”.vc_custom_1624528584150{padding-top: 25px !important;padding-bottom: 25px !important;}”][vc_empty_space][megatron_heading title=”Author keywords” size=”size-sm” text_align=”text-left”][vc_column_text]Assets management,Cost analysis,Cost and benefits,Design/methodology/approach,Failure mode and effects analysis,Life cycle cost analysis,Operation and maintenance,Root cause failure analysis[/vc_column_text][vc_empty_space][vc_separator css=”.vc_custom_1624528584150{padding-top: 25px !important;padding-bottom: 25px !important;}”][vc_empty_space][megatron_heading title=”Indexed keywords” size=”size-sm” text_align=”text-left”][vc_column_text]Assets management,Cost analysis,Cost and benefit,Life cycle cost analysis,Power generation[/vc_column_text][vc_empty_space][vc_separator css=”.vc_custom_1624528584150{padding-top: 25px !important;padding-bottom: 25px !important;}”][vc_empty_space][megatron_heading title=”Funding details” size=”size-sm” text_align=”text-left”][vc_column_text][/vc_column_text][vc_empty_space][vc_separator css=”.vc_custom_1624528584150{padding-top: 25px !important;padding-bottom: 25px !important;}”][vc_empty_space][megatron_heading title=”DOI” size=”size-sm” text_align=”text-left”][vc_column_text]https://doi.org/10.1108/13552511311304447[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″][vc_column_text]Widget Plumx[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_separator css=”.vc_custom_1624528584150{padding-top: 25px !important;padding-bottom: 25px !important;}”][/vc_column][/vc_row]