4. Life Cycle Thinking Flashcards
What is a life cycle in the context of engineering and business?
A series of distinct stages through which an object, such as a business, product, or service, passes during its existence.
Why is life cycle thinking important for decision-makers?
It helps weigh positive and negative effects across all stages of a product’s life to maximize benefits and minimize drawbacks.
What is profile evaluation?
A simple graphical analysis used to assess different aspects of a project (e.g., marketing, production, finance, technology) for decision-making.
What are the main limitations of basic profile evaluation?
- Lacks numerical evaluation
- Provides only a visual impression
- Does not show relative importance of individual factors
How can profile evaluation be improved?
By introducing numerical ratings, weighting factors, and a time horizon for better decision-making.
What is the cash flow shape technique used for?
To analyze the financial return of an investment by considering break-even points and long-term profitability.
What is Product Lifecycle Management (PLM)?
The process of managing a product’s full life cycle from invention to disposal, focusing on efficiency and profitability.
What is the purpose of whole-life cost analysis?
To evaluate the total cost of ownership of an object over its life cycle, including purchase, maintenance, and disposal.
What costs are included in whole-life cost analysis?
- Purchase cost
- Maintenance and servicing
- Energy consumption
- Depreciation
- Opportunity costs
What is cost-benefit analysis (CBA)?
A decision-making tool that compares the costs and benefits of different actions, including external and non-financial impacts.
What is a stakeholder in cost-benefit analysis?
Any person, group, or organization with a potential interest in a project or business.
What are the three main types of stakeholders?
- Primary (Internal) – Directly involved (e.g., shareholders, employees).
- Secondary (External) – Indirectly affected (e.g., local community).
- Excluded Stakeholders – Not impacted at all.
What is Life Cycle Assessment (LCA)?
A process to analyze the environmental impact of a product or service throughout its life cycle.
What is an example of LCA in action?
Evaluating whether a wind turbine produces more energy over its lifetime than was used in its manufacturing and installation.
What are the four phases of an ISO 14000 LCA study?
- Definition of goal and scope
- Life Cycle Inventory (LCI)
- Life Cycle Impact Assessment (LCIA)
- Interpretation of results
What is the purpose of the Life Cycle Inventory (LCI)?
To collect and quantify all resource inputs and environmental outputs in the product life cycle.
What is the purpose of the Life Cycle Impact Assessment (LCIA)?
To evaluate the environmental consequences of resource use, emissions, and waste from the life cycle inventory.
What key factors are considered in Life Cycle Impact Assessment (LCIA)?
- Greenhouse gas emissions
- Resource depletion
- Toxicity levels
- Energy consumption
What is a functional unit in Life Cycle Assessment?
A standardized unit of measurement used to compare products or processes (e.g., per kWh of electricity for wind turbines).
What are some challenges in conducting an LCA?
- Finding appropriate units of measurement
- Dealing with data uncertainty
- Assigning weights to environmental impacts
What is the main goal of a Life Cycle Assessment?
To ensure that a product or service delivers more benefits than it costs in terms of environmental and economic impact.
What is the relationship between sustainability and LCA?
LCA helps assess whether a system is sustainable by ensuring long-term resource efficiency and minimal environmental damage.
What is an example of LCA in renewable energy?
Evaluating the energy return on investment (EROI) for solar panels or wind turbines.
Why is ISO 14000 important in LCA?
It provides standardized methods for conducting and comparing LCA studies across industries.
