LCC Course: Life Cycle Cost Analysis in Transport
Online course of 300 hours in LCC: life cycle cost analysis in transport. 6 modules covering IEC 60300-3-3 (life cycle cost calculation), ISO 15686-5 (life cycle cost) and advanced Excel. Assigned tutor and enrolment open.
LCC Course: Life Cycle Cost Analysis in Transport — studying from Malta
Regulation and safety engineering are important in Malta because many industries, including aviation, maritime, gaming and financial services, operate under strict national and European rules. Engineers specialising in reliability, availability, maintainability and safety, along with homologation and conformity assessment, are needed by manufacturers, operators and regulators alike. The Malta Standards Authority and sectoral regulators set requirements that shape product approval and operational safety. Professionals in this field often bridge technical work and compliance, supporting audits, certification and documentation.
Fees for Malta: €448 (Euro), with instalments and employer sponsorship available.
Relevant bodies in Malta
Typical roles
Questions from Malta
Which Maltese bodies handle regulation and homologation, and how are they relevant here?
Malta applies EU frameworks for product and vehicle homologation, with Transport Malta, the Malta Standards Authority and the Occupational Health and Safety Authority among the key bodies. Reliability, availability, maintainability and safety (RAMS) work is often tied to such standards. SEIUM's qualifications are private, not official state degrees and not accredited by any national body, so recognition is decided by employers or the relevant authority.
Do employers in Malta hire for RAMS and safety roles, and would this qualification help?
Safety and RAMS specialists are needed across Malta's industrial, maritime, aviation-related and public sectors. Employers typically look for demonstrable competence, experience and recognised standards knowledge. Whether a private online qualification is accepted is up to each employer, so it is wise to check job requirements and talk with hiring managers first.
Can I manage this online alongside work, and what support is included?
The programmes are 100% online and taught in English, so no student visa is needed to study from home. Hours range from 300 for specialist courses to 1,900 for master's programmes, and you can plan around your job. Each student is assigned a technical tutor, fees can be paid in instalments, and employer sponsorship is possible.
Take the controls.
Run a real engineering trade-off from this field. Move the sliders, watch the model react in real time and beat the challenge.
What you will be able to do
Explain the components of life cycle cost.
Build economic models with discounting and scenarios.
Apply LCC to different transport modes.
Integrate cost analysis with environmental life cycle assessment.
Quantify uncertainty using sensitivity analysis and Monte Carlo.
Use LCC in purchasing and asset management decisions.
Produce an LCC analysis for a transport project.
Who it's for
- Life cycle cost analyst wishing to specialise in LCC: life cycle costing in transport.
- Asset management engineer wishing to specialise in LCC: life cycle costing in transport.
- Transport investment consultant wishing to specialise in LCC: life cycle costing in transport.
- Technical procurement manager wishing to specialise in LCC: life cycle costing in transport.
- Sustainability analyst wishing to specialise in LCC: life cycle costing in transport.
- Fleet planning engineer wishing to specialise in LCC: life cycle costing in transport.
- Engineering or science graduates seeking to join transport operators.
What you'll work with
- IEC 60300-3-3 (life cycle cost calculation)
- ISO 15686-5 (life cycle cost)
- ISO 55000 (asset management)
- ISO 14040 (LCA: principles)
- ISO 14044 (LCA: requirements)
- Directive 2014/24/EU (procurement, life cycle cost)
- EN 50126 (railway RAMS)
6 modules · 300 h
1.1LCC and TCO concepts1.2IEC 60300-3-3 standard1.3ISO 15686-5 for built assets1.4Life cycle phases of a transport asset1.5Cost breakdown structure (CBS)1.6Acquisition, operation and disposal costs1.7Unavailability costs1.8LCC in public procurement1.9Green public procurement and LCC criteria1.10Case study: comparing tenders by LCC
2.1Time value of money2.2Discount rate and net present value2.3Inflation and cost escalation2.4Analysis horizon and residual value2.5Energy and fuel costs2.6RAMS-based maintenance costs2.7External costs: emissions and noise2.8Sensitivity analysis2.9Monte Carlo simulation2.10Workshop: LCC model in a spreadsheet
3.1Railway rolling stock3.2Railway infrastructure and track3.3Bus fleets: diesel, electric and hydrogen3.4Commercial fleet vehicles3.5Aircraft and engines3.6Ships and alternative propulsion3.7Roads and pavements3.8Bridges and tunnels3.9Charging and refuelling stations3.10Laboratory: LCC of an electric bus fleet
4.1LCA according to ISO 14040/140444.2Differences between LCC and LCA4.3Environmental and social LCC4.4Life cycle carbon footprint4.5Clean Vehicles Directive 2019/11614.6CO2 fleet regulation4.7Taxonomy and sustainable finance4.8End of life and circular economy4.9Weighting of economic and environmental criteria4.10Practical: LCA-LCC comparison of two trains
5.1Multi-criteria analysis and LCC5.2Renewal and replacement decisions5.3Optimising replacement timing5.4ISO 55000 asset management5.5Availability and maintenance contracts5.6Risk and uncertainty in LCC5.7Collecting real cost data5.8In-service LCC verification5.9Communicating results to management5.10Case study: fleet renewal decision
6.1Selection of the transport asset6.2Definition of alternatives6.3Cost breakdown structure6.4Data collection6.5Building the model6.6Sensitivity and risk analysis6.7Integration of environmental criteria6.8Recommendation of an alternative6.9Report and presentation6.10Final review with the tutor
How you'll learn
100 % online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetables: students progress at their own pace within the intake, which makes it possible to combine the programme with work.
Each module combines theory, guided reading of the original standard and applied exercises. The working software is advanced Excel, @RISK, openLCA, SimaPro, Python (pandas), in free, academic or evaluation versions. Case studies are based on real procedures for fleet cost models, sensitivity and Monte Carlo analysis, and comparison of investment alternatives. Assessment is continuous by module plus the final integrating project.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Explain the components of life cycle cost.
Build economic models with discounting and scenarios.
Apply LCC to different transport modes.
Integrate cost analysis with environmental life cycle assessment.
Quantify uncertainty using sensitivity analysis and Monte Carlo.
Where this takes you
Requirements
- No prior qualification required.
- Internet connection and a computer capable of running the programme's software.
- Sufficient level of Spanish to follow technical regulatory texts.
Ready to start?
Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.
Frequently asked questions
The programme comprises 300 hours in total, spread over 3 to 5 months. That is an average of 10 to 15 hours per week, compatible with a full-time job.
You work with advanced Excel, @RISK, openLCA, SimaPro, Python (pandas). Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.
An SEIUM own diploma upon passing the continuous assessment and the final integrating project. It is in-house training, not an official qualification from the Ministry.
Yes. Modules passed in a course or Postgraduate Diploma in the same area are credited towards the higher programme. Check the recognition policy when you enrol.
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