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BS EN ISO 15663:2021

BS EN ISO 15663:2021

$215.11

Petroleum, petrochemical and natural gas industries. Life cycle costing

Published By Publication Date Number of Pages
BSI 2021 114
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This document specifies requirements for and gives guidance on the application of life cycle costing to create value for the development activities and operations associated with drilling, exploitation, processing and transport of petroleum, petrochemical and natural gas resources. This document covers facilities and associated activities within different business categories (upstream, midstream, downstream and petrochemical).

The life cycle costing process as described in this document is applicable when making decisions between competing options that are differentiated by cost and/or economic value. This document is not concerned with decision-making related to the economic performance of individual options or options differentiated by factors other than cost or economic value.

Guidance is provided on the management methodology and application of life cycle costing in support of decision-making across life cycle phases. The extent of planning and management depends on the magnitude of the costs involved, the potential value that can be created and the life cycle phase. It also provides the means of identifying cost drivers and provides a cost-control framework for these cost drivers, allowing effective cost control and optimization over the entire life of an asset.

PDF Catalog

PDF Pages PDF Title
2 National foreword
6 European foreword
9 Foreword
10 Introduction
11 1 Scope
2 Normative references
3 Terms, definitions and abbreviated terms
3.1 Terms and definitions
18 3.2 Abbreviated terms
4 Application
4.1 Users of this document
19 4.2 Framework conditions
20 4.3 Limitations
4.3.1 General
21 4.3.2 HSE considerations
4.3.3 Sustainability and climate change considerations
22 4.4 Benefits of life cycle costing
23 4.5 Life cycle costing within the life cycle phases
24 4.6 Life cycle costing subject matters
26 4.7 Technology development
5 Management of life cycle costing
5.1 General
27 5.2 Objectives for management of life cycle costing
28 5.3 Roles and responsibilities
5.4 Strategy and planning – life cycle costing management plan
5.4.1 Life cycle costing management plan
29 5.4.2 Life cycle costing process
30 5.5 Contractual strategies
5.6 Assessment and feedback
5.7 Training and competence
31 6 Methodology
6.1 General
6.2 Step 1 — Scoping
6.2.1 Objective
32 6.2.2 Define scope and measures
34 6.2.3 Identify potential options
6.2.4 Define options
6.3 Step 2 — Cost drivers and data collection
6.3.1 Objective
35 6.3.2 Identify potential cost drivers
36 6.3.3 Define cost elements
6.3.4 Identify and collect data
6.4 Step 3 — Modelling and analysis
6.4.1 Objective
6.4.2 Develop model
37 6.4.3 Analyse and assess
6.4.4 Consider uncertainties and sensitivities
38 6.5 Step 4 — Reporting and decision-making
6.5.1 Objective
6.5.2 Report and recommend
6.5.3 Decide and implement
39 6.5.4 Capture lessons learned
40 Annex A (informative) Life cycle costing implementation
60 Annex B (informative) Life cycle phases
68 Annex C (normative) Life cycle costing techniques
89 Annex D (informative) Data input
97 Annex E (informative) Examples
110 Annex F (informative) Assessment and feedback
112 Bibliography

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BS EN ISO 15663:2021
$215.11