Product Support Lifecycle Costing
£6850.00£6200.00
Overview
Understanding and effectively managing the costs associated with product support throughout its lifecycle is crucial for government and defence organisations. This training course offers comprehensive knowledge and skills to enable participants to:
Make informed decisions during defence acquisition processes.
Plan and budget for product support in a cost-effective manner.
Align product support costs with organizational objectives.
Comply with regulatory requirements, including DoD Component Cost Estimate and the Independent Cost Estimate (ICE).
Apply industry best practices, such as parametric analysis and cost estimating relationships.
Enhance the overall efficiency and cost-effectiveness of product support initiatives.
Participants in the Product Support Lifecycle Costing Training will acquire key skills, including:
Cost Estimating: Proficiency in estimating product support costs.
Lifecycle Cost Analysis: Ability to calculate total lifecycle costs.
Parametric Analysis: Understanding and applying this cost estimation technique.
Regulatory Compliance: Navigating defence acquisition regulations.
Financial Management: Budgeting and resource allocation skills.
Data Privacy Awareness: Protecting sensitive data and ensuring compliance.
Strategic Decision-Making: Aligning support costs with objectives.
Risk Mitigation: Identifying and mitigating cost-related risks.
Effective Communication: Conveying cost information to stakeholders.
Project Management: Efficiently managing support projects.
Best Practices: Applying industry-recommended cost management practices.
These skills equip participants for success in Product Support Lifecycle Costing within defence and government organisations.
Teaching Approach
The training course employs a dynamic and interactive teaching methodology to maximise participant engagement and knowledge retention:
Lectures: In-depth presentations on key concepts and principles.
Case Studies: Real-world scenarios and examples for practical application.
Group Discussions: Facilitated discussions to encourage peer learning.
Hands-on Exercises: Practical exercises and simulations to reinforce learning.
Q&A Sessions: Opportunities for participants to seek clarification and engage with instructors.
Training Outline
Day 1: Introduction to Product Support Lifecycle Costing
Session 1: Course Overview
Welcome and introduction to the training course.
Overview of the training objectives and agenda.
Session 2: Defence Acquisition Programs and Processes
Understanding the fundamentals of defence acquisition programs.
Exploring the key processes involved in defence acquisitions.
Analysing system descriptions, characteristics, and work breakdown structures (WBS).
Day 2: Lifecycle Cost Estimates and Cost Estimating Techniques
Session 3: Overview of Product Support Lifecycle Costing
Defining the concept of product support lifecycle costing.
Discussing the importance of early cost estimation in DoD acquisitions.
Exploring the Life-Cycle Sustainment Plan (LCSP) and its significance.
Session 4: Cost Estimating Fundamentals
Understanding the components of a Life-Cycle Cost Estimate (LCCE).
Categorizing cost elements, including research and development, procurement, operations, maintenance, and disposal.
Examining various cost estimating techniques such as parametric, analogy, engineering estimate, and actual cost.
Day 3: DoD Cost Estimating Products and Financial Management
Session 5: Overview of DoD Cost Estimating Products
Reviewing the Rough Order Magnitude (ROM) cost estimates.
Delving into detailed cost estimates and their implications.
Introduction to the Cost Analysis Requirements Description (CARD).
Session 6: Financial Management and Cost Analysis
Exploring the DoD Component Cost Estimate and the Independent Cost Estimate (ICE) for Acquisition Category (ACAT) programs.
Preparing the Cost Analysis Requirements Description (CARD).
Role of the Program Management Office (PMO) and DoD Component Program Executive Officer (PEO) Approval.
Day 4: Parametric Estimating and Logistics Requirements Funding
Session 7: Parametric Estimating
Understanding the basics of parametric analysis.
Best practices for conducting parametric analysis.
Cost Estimating Relationships (CERs) and their development.
Session 8: Logistics Requirements Funding Summaries
Structuring and processing logistics requirements funding.
Utilising cost models for all Integrated Product Support (IPS) elements.
Overview of cost estimating tools and funding planning.
Day 5: Planning and Organising for Data Privacy
Session 9: Planning and Organising
Detailed exploration of the planning and organizing process.
Conducting assessments, setting objectives, and defining process deliverables.
Resolving discrepancies and implementing corrective actions.
Session 10: Operational Capability Assessment and Product Support Management
Conducting an operational capability assessment.
Assessing IPS support.
Understanding product support management and budgeting.
Addressing environmental, safety, and occupational health considerations.
Certificate of Completion: Upon successful completion of the course, participants will receive a Certificate of Completion from Al-Majd Pathways Centre (APC).