INTEGRATING LIFE CYCLE COSTING ANALYSIS INTO THE DECISION MAKING PROCESS IN NEW PRODUCT DEVELOPMENT
The trend towards sustainable development is driving companies to adopt a broader life cycle perspective in produtct development. Within this context Life Cycle Cost Analysis models can be a decisive decision support tool. In the present paper an innovative approach to combine a stochastic LCC model and a decision support tool to assist in the optimisation of the design process is described. The model is combined with a probabilistic LCC model, in order to enable the product development team to establish and maintain a Logbook or Register of the design decisions taken during the whole process development. The work being reports preliminary findings. The full managerial implications of the model being developed are still being investigated.