Product Support Lifecycle Costing Training by Tonex
Product Support Lifecycle Costing Training is a 2-day training workshop. The Department of Defense (DoD) Acquisition Process is one of three (3) processes (Acquisition, Requirements and Funding) that make up and support the Defense Acquisition System and is implemented by DoD Instruction 5000.02 “Operation of the Adaptive Acquisition Framework”.
Product Support Lifecycle Costing Training provides product support instruction, policies and cost principles that govern the defense acquisition system and forms the management foundation for all DoD programs part of Integrated Product and Process Development (IPPD).
Product Support Lifecycle Costing Training is a comprehensive program designed to equip professionals with the knowledge and skills necessary to effectively manage the costs associated with supporting and sustaining a product throughout its lifecycle.
This training offers a deep dive into the principles, methodologies, and tools required to make informed decisions about product support, cost analysis, and optimization. Participants will gain a solid foundation in cost estimation, control, and reduction strategies, ensuring they can contribute to their organizations’ profitability and sustainability.
Learning Objectives: By the end of this course, participants will be able to:
- Understand the concept of product support lifecycle costing and its importance in business decision-making.
- Identify and categorize various cost elements associated with product support.
- Apply cost estimation techniques to accurately predict product support costs.
- Analyze and interpret cost data to make informed decisions and optimizations.
- Implement strategies for cost control and reduction in the product support lifecycle.
- Develop a product support cost management plan to enhance organizational profitability.
Audience: This course is designed for professionals involved in product management, supply chain management, finance, and operations. It is particularly beneficial for:
- Product Managers
- Supply Chain Managers
- Financial Analysts
- Operations Managers
- Cost Estimators
- Engineers involved in product development
Course Outline:
Introduction to Product Support Lifecycle Costing
- Understanding the Lifecycle Costing Concept
- Importance of Lifecycle Cost Analysis
- Role of Product Support in Lifecycle Costing
- Cost Elements in Product Support
- Cost Categories and Their Significance
- Case Studies on Lifecycle Costing
Cost Estimation Techniques
- Methods of Cost Estimation
- Historical Data Analysis
- Parametric Cost Estimation
- Learning Curves and Their Application
- Regression Analysis for Cost Estimation
- Sensitivity Analysis in Cost Estimation
Cost Analysis and Decision-Making
- Data Collection and Analysis
- Cost Breakdown Structures (CBS)
- Variance Analysis and Cost Control
- Cost-Benefit Analysis (CBA)
- Net Present Value (NPV) in Decision-Making
- Risk Analysis and Mitigation
Cost Optimization Strategies
- Value Engineering and Value Analysis
- Target Costing Approach
- Lean and Six Sigma Principles in Cost Reduction
- Cost Drivers Identification
- Trade-Off Analysis
- Continuous Improvement Techniques
Cost Control and Reduction Plan Development
- Developing a Cost Control Framework
- Setting Key Performance Indicators (KPIs)
- Monitoring and Reporting Systems
- Implementing Cost Reduction Initiatives
- Performance Evaluation and Feedback
- Case Study: Creating a Cost Management Plan
Course Recap and Practical Application
- Review of Key Concepts
- Group Activities and Discussions
- Real-world Case Studies and Exercises
- Applying the Learning to Participants’ Work Environments
- Q&A Session and Knowledge Assessment
- Course Conclusion and Certification
Upon completion of this course, participants will have the knowledge and tools necessary to analyze and manage the lifecycle costs of products effectively, contributing to enhanced decision-making, cost control, and profitability within their organizations.