Life Cycle Analysis Procedures and Techniques

An Appraisal and Suggestions for Future Research

Kenneth E. Marks, H. G. Massey

Expert InsightsPublished 1977

RAND has examined the procedures used to conduct life cycle analyses and estimating techniques that are often the basis for life cycle cost estimates. This study was directed at identifying shortcomings that limit the usefulness of results to decisionmakers faced with investment decisions. The procedures followed in a number of recent analyses on Air Force programs were examined as case studies. A number of procedural problems were identified that could make a cost estimate an unreliable basis for an investment decision. A review of a number of well-known models often used in life cycle analysis led to the conclusion that standard or generalized models are largely insensitive to many potentially important, real-world cost drivers. The models can be improved; but, particularly in the immediate future, sound cost estimates must rely on improved analytical procedures.

Document Details

Citation

Chicago Manual of Style

Marks, Kenneth E. and H. G. Massey, Life Cycle Analysis Procedures and Techniques: An Appraisal and Suggestions for Future Research. Santa Monica, CA: RAND Corporation, 1977. https://www.rand.org/pubs/papers/P6031.html.
BibTeX RIS

This publication is part of the RAND paper series. The paper series was a product of RAND from 1948 to 2003 that captured speeches, memorials, and derivative research, usually prepared on authors' own time and meant to be the scholarly or scientific contribution of individual authors to their professional fields. Papers were less formal than reports and did not require rigorous peer review.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.

RAND is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.