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Characterisation of uncertainties in costing for availability contracts

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conference contribution
posted on 18.11.2013 by Swetha Narayana, Yee Goh, Jennifer A. Harding
There is an emerging trend of offering combined products and services to customers as integrated solutions. These are implemented by contracts such as availability contracts. Uncertainties may arise due to the novelty of the process of designing and managing such offerings, prediction of equipment failure and multiple stakeholders involvement in addition to the long-term nature of the contract. Understanding through-life uncertainties and their impact on cost is critical to ensure sustainability and profitability of the companies offering such solutions. The focus of this paper is to (i) evaluate existing uncertainty classifications and (ii) propose essential considerations for characterising the uncertainties in availability contracts. Appropriate classification of uncertainties should improve the quality of cost estimation by stimulating an understanding and awareness of uncertainties and their characteristics.

History

School

  • Mechanical, Electrical and Manufacturing Engineering

Citation

NARAYANA, S., GOH, Y.M. and HARDING, J.A., 2012. Characterisation of uncertainties in costing for availability contracts. IN: Harrison, D. (ed.) Proceedings of the 10th International Conference on Manufacturing Research (ICMR 2012), 11th-13th September, Aston University, Birmingham. Volume 1, pp.55-60.

Publisher

ICMR © the authors

Version

AM (Accepted Manuscript)

Publication date

2012

Notes

This paper was presented at the 10th International Conference on Manufacturing Research (ICMR 2012). Aston University, Birmingham, 11-13 September. The conference proceedings are available at: http://www1.aston.ac.uk/aston-business-school/research/events/past-events/icmr-2012/conference-proceedings/

ISBN

9781905866601

Language

en

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