LCC - Life Cycle Costing

What is LCC :

LCC means Life Cycle Costing.
It means the the total cost required at the developed stage & is expected to arive at the design stage.
The total service life cost required from Market Research, Planning, Design, Deveopment, Trail manufacturing, Mass Production, Operation, Maintenance of any Equipment.
The LCC should be as per User/ Customer economic.
If the LCC will more, then it will be costy for the user economic. So, the LCC should be designed as per User Economic.
So, LCC is the main parameter for the Design & Development Pillar.
To Reduce this LCC, DM pillar team has to take following steps -
1) During Design & Development of New product & Equipment, DM pillar has to take help of past data in from of MP sheet.
2) During Design & Development of New product & Equipment, DM pillar has to take maximum design reviews with Customer.
3) He has to verify the Design, Drawing, Prototype samples with Customer .