Technology Solutions & Practices Shared Interest Group

If you're looking to deepen your understanding of cost management and risk analysis, "Life-Cycle Costing: Using Activity-Based Costing and Monte Carlo Methods to Manage Future Costs and Risks" by Jan Emblemsvåg is a must-read. ​ This comprehensive guide delves into the intricacies of Activity-Based Costing (ABC) and Monte Carlo methods, providing a robust framework for managing future costs and risks effectively. ​ Emblemsvåg's book is particularly valuable for finance, engineering, and management professionals, offering practical insights and detailed case studies that illustrate the application of these methods in real-world scenarios.

Another excellent resource is "Activity-Based Life-Cycle Costing," which provides a comprehensive approach to managing costs over the life cycle of a product or service. ​ Through detailed explanations and real-world case studies, such as the management of tire disposal and the operation of Platform Supply Vessels, the book illustrates how to implement Life-Cycle Costing (LCC) effectively. It covers everything from defining the scope and identifying resources to modeling uncertainty and performing Monte Carlo simulations. ​

For a practical guide on applying Activity-Based LCC in a business setting, "Activity-Based Life-Cycle Costing at WagonHo!" ​ is highly recommended. This book offers practical insights through the case study of WagonHo!, a small toy manufacturer, illustrating the benefits and challenges of this approach. ​ It covers essential topics such as cost drivers, resource allocation, and the importance of process orientation, making it an invaluable resource for managers, engineers, and anyone interested in cost management and business improvement strategies.