Mobile Equipment Life Cycle Costing

Mobile Equipment Life Cycle Costing

Areas of Study: Mining | Maintenance

Qualifies for CMS

This course is a practical guide for managing the economic life of a mining truck fleet. It covers key financial, commercial and physical aspects of truck management and explains specific methods for acquiring and operating these vehicles to full advantage.

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  • Audience Level:
  • Professional
  • Enrollment:
  • Required
  • Duration:
  • 7 hours

Certify to Test Your Knowledge, and Earn a Certificate

Certification is optional. Enrollment is required for Certification.

  • Fee for Certification:
  • Not Available
  • Completion:
  • 20 days
  • CEUs:
  • 0.7 (7 PDHs)

Course Summary

Introduction

Mobile Equipment Life Cycle Costing is a practical guide for managing the economic life of a mining truck fleet. It covers key financial, commercial and physical aspects of truck management and explains specific methods for acquiring and operating these vehicles to full advantage.

The course includes three sections—Introduction, Life Cycle Cost Analysis, and Optimization. It is structured to support a vigorous discounted cash flow analysis that embraces realistic estimates for the key operating and maintenance variables associated with running haul trucks, and discusses options for improving overall truck performance and productivity.

The objective is to provide an analytic framework that enables readers to impartially assess haul truck investments by using reliable financial modeling and sensitivity analysis. The life cycle model should be functional as a baseline for formal equipment planning and management and for measuring the performance of the haul truck fleet during its useful life.

People who will benefit from this course include purchasing, maintenance, engineering and production managers from mining companies that operate fleets of large haul trucks.

Course Content

This course is presented as 16 viewing sessions, averaging approximately 30 minutes viewing duration each, plus four interactive reviews that confirm the viewer's achievement of learning objectives. The total duration of the course is approximately seven hours.

Learning Outcomes

  • Identify the principles and application of life cycle costing.
  • Discuss the concepts of economic risk, operating risk and supplier risk and how to incorporate these into the costing model.
  • Discuss the application of life cycle costing to the budgeting, resource forecasting, and maintenance evaluation processes.

Recommended Background

  • Experience of mining operations in a management context.
  • A technical degree or diploma.

Michael Currie

Based in Kelowna, Canada, Michael Currie provides strategic advice to clients that wish to optimize investments in industrial assets and in the technologies that support them. He is a recognized leader in applying life cycle cost (LCC) and risk analysis to mobile equipment, and provides products and services based on these principles to clients operating around the world.

With over 30 years' experience that includes senior roles with PricewaterhouseCoopers global mining group and Finning, a major Caterpillar dealer, he brings credible industry knowledge to engagements that focus on solving problems, not just identifying them.

Specialties:

  • Improving fleet management practices and performance
  • Delivering solutions that support lasting financial discipline and maintenance excellence
  • Evaluating business cases for equipment investments and product support strategies
  • Improving supplier relationships through MARC contract audits and capability assessments
  • Creating and transferring knowledge through management workshops

Clients include leading mines, mining equipment manufacturers and suppliers, as well as fleet operators in other industries that require robust equipment budgets, resource estimates and maintenance strategy evaluations.