What is the Life Cycle Cost on a Critical Pump?

Iwaki Life Cycle Cost

What is the Life Cycle Cost on a Critical Pump?

Life Cycle Cost (LCC) is the process of estimating how much money you will spend on an asset over the course of its useful life.  This is sometimes referred to as cradle to grave cost.  It takes into consideration many factors of an asset’s life and the cost associated with it during that time.  When considering the LCC of a centrifugal pump, especially in a critical process, the following factors are taken into consideration:

Initial Cost – this is the cost of the product.  It is easy to calculate – look at the purchase order you placed for the pump.  Add any services needed to install the pump.  This is your initial cost.

Energy cost – this is also relatively easy to calculate.  Calculate the number of kilowatt (KW) hours the pump will use and multiply it by the KW hour cost that your electrical provider charges you.  Multiply that by the expected hours of life you expect for the pump and an approximate total energy cost is calculated.

Environmental cost – this is for pumps that are pumping fluids that are dangerous to the environment.  Petroleum, solvents, and chemicals are great examples.  If a mechanical seal leaks allowing the fluid to enter the environment a cleanup cost is associated with it.

Maintenance cost – As mentioned above a leaking mechanical seal can cause an environmental cost but the cost to maintain the seal also has an associated cost.  The #1 reason a mechanically sealed pump is pulled from service is to replace a worn or failing mechanical seal.

Downtime cost – When a pump is sent to the maintenance shop for repair the service is taken offline. There is a cost associated with downtime on production.

Disposal cost – Often a cost that is forgotten.  A pump that has spent its life in a hazardous service needs to be decontaminated and properly disposed of.  These costs can be expensive.

The costs on the right side of the chart are pretty much fixed.  Some pumps may be less expensive than others or carry a higher efficiency lowering energy costs.  Costs on the left side of the chart are very variable.  Proper seal selection and alignment can lower your environmental, maintenance, and downtime costs.  The use of sealless pumps, where appliable, can also help nullify these costs.

Iwaki America is a global leader in magnetic drive sealless pump technology.  Learn more at iwakiamerica.com

Related Articles

Related Whitepapers

Blackmer® MAGNES Series Sliding Vane Pumps Solve Legacy Pain Points

Introduction There are some things you just can’t avoid: death, taxes, and a pump’s common operational pain points- leaks, dry run, solids handling, cavitation-causing NPSH…

Buffer & Barrier Fluids

Author: Mark Savage, FSA Member As operators of pumping equipment become more focused on the safety, reliability and environmental impact resulting from shaft seal leakage,…

Where mechanical seals meet pumps: What is the next generation?

Almost all centrifugal and rotary pumps require a sealing system to provide sealing integrity of the drive shafts carrying the impellers and protect against pumped…

Using Power Sensing To Monitor and Protect Pumps

Pumps play an increasingly important role in today’s manufacturing. The global market for pumps is over $60B, and is expected to continue growing 6% into…


Leave a Reply

Your email address will not be published. Required fields are marked *

Sign up for our Newsletter

By submitting this form, you are consenting to receive marketing emails from: Empowering Pumps & Equipment, 2205-C 7th Street, Tuscaloosa, AL, 35401, http://www.empoweringpumps.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact