Life Cycle Costing a Potential Application for Making of Ships and Submarines : A Cost Management Tool for Efficiency Measurement

The life cycle is very crucial in human life as well as any asset.its most important to note that which stage is entered in the total life of an asset. As it will require to monitor regarding additions, deletions, repairs, and maintenance to measure the performance in every stage of assets. Its called life cycle management of an asset. This has influences directly, indirectly on product cost, quality, durableness, and cutting off future recurring costs. Hence the life cycle cost is a big tool in the hands of management to manage the asset as well as to enhance the effectiveness and profitability of various products