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Pump Total Life-Cycle-Cost (LCC)
VE General Knowledge

Pump Total Life-Cycle-Cost (LCC)

Life-Cycle-Cost is Sum of all recurring and one-time (non-recurring) costs over the full life span or a specified period of a good, service, structure, or system. It includes purchase price, installation cost, operating costs, maintenance and upgrade costs, and remaining (residual or salvage) value at the end of ownership or its useful life, (www.businessdictionary.com)
According to the Hydraulic Institute (www.pumps.org), life-cycle-costing for pumps is calculated as following:

LCC = Cic + Cin + Ce + Co + Cm + Cs + Cenv + Cd

Whereas:

Cic = initial costs, purchase price (pump, system, pipe, auxillary services)

Cin = installation and commissioning cost (including training)

Ce = energy costs (predicted cost for system operation, including pump driver, controls, and any auxillary services)

Co = operation costs (labor cost of normal system supervision)

Cm = maintenance and repair costs (routine and predicted repairs)

Cs = downtime costs (loss of production)

Cenv = environmental costs (contamination from pumped liquid and auxiliary equipment)

Cd = decommissioning / disposal costs (including restoration of the local environment and disposal of auxiliary services).

 

Figure 1. Typical life-cycle cost for a pumping system (Courtesy of Hydraulic Institute)

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