A Simulation Based: Engineering Change Proposal (ECP) Cost Benefit Evaluation Procedure.
ARMY AVIATION SYSTEMS COMMAND ST LOUIS MO
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A simulation addresses the problem of economic evaluations of proposed engineering modifications to existing army aircraft systems. It embodies the fundamentals of economic analysis, i.e., the action vs. no action management alternatives and the discounting of future time-phased cash flows back into present worths. The cost factors considered in these modifications are the retrofit investment costs, retrofit schedules and the reliability and maintainability factors of both alternatives. A cash flow is calculated and analyzed for each of the two alternatives by period analysis over the aircraft systems remaining life. The analysis results are available in either a summary format or as a time series. The breakeven point in time or flying hours can be easily estimated from this series. Author Modified Abstract
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