Lifecycle Planning

Lifecycle Planning

Lifecycle Management Services

Odysseus-imc offers tailored lifecycle management services to organisations across a range of industries.

Just as people have a lifecycle, so too do assets. The lifecycle process recognises the different functions undertaken during the life of an asset. The functions that occur during this lifecycle are:

  • Creation or acquisition of the asset
  • Operation and maintenance
  • Monitoring of the asset’s condition and performance
  • Analysis of the portfolio
  • Determining the works
  • Review of the need for the assets

At the heart of the lifecycle is the ever-changing risk. As the assets age or the performance declines, the risk increases.

Lifecycle management services such as lifecycle planning rely on an understanding of the assets and their performance. How the assets perform – for example, their failure history, service delivery, cost history, risk exposure, and demand – all influence future planning. As such, the asset manager needs to understand the impacts of those influences to be able to remove them.

Lifecycle costing supports the planning function by tracking the costs associated with the assets with a view to understanding the relationship between operations, maintenance and capital expenditure. By understanding these relationships, the asset manager can identify and analyse the funding options.

For more information on our lifecycle management services, please contact us.