The Fundamentals of Equipment Economics

Craft a winning strategy and build expertise in equipment costs and lifecycle management with our new virtual, video-based course led by Mike Vorster, author of “Construction Equipment Economics” and President of C.E.M.P. Central Inc.

 

The Fundamentals of Equipment Economics will teach you how to master the essential skills and strategies needed to lower costs and improve business performance.

This course is a good fit for you if:

  • You have some level of influence in your company’s decision to repair, rebuild or replace a machine in the fleet.

  • You have a solid understanding of operating and owning costs, managing fleet average age, and when to repair, rebuild or replace a machine.

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  • You are looking to expand your knowledge of equipment management topics to drive increased value to your company’s business.

  • Your company is open to adopting new practices to better manage major equipment decisions.

To gain a better understanding of these topics before taking this course, you can visit our additional resources.

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The curriculum includes:

  • Management topics such as critical success factors and equipment management functions, organizational structure, the complex flow of funds and more.

  • An in-depth overview of owning and operating costs including definitions and characteristics of owning and operating costs, repair parts and labor curve based on personal company data, how to estimate operating costs from first principles, depreciation, interest costs and more.

  • How to understand rate and cost management, economic life and minimum cost.

  • A break-down of reliability that covers the impact of inspection and prevention, the role they play in machine reliability, how to measure and understand reliability and the relationship between machine age, cost and reliability.

  • Understanding stakeholder needs and the quantitative tools they use to perform better.

  • How to find and attack the causes of cost in order to reduce them.

  • To see the full description click the "View Program Guide" button to the right.

How to order:

  • If you are not yet enrolled in Caterpillar University please click the "Ready to Order" button to the right and then click the blue "Enroll" button.  You will be guided through a brief, no obligation enrollment process.

  • If you are already enrolled, click the yellow "Log in" button in the main menu above.

  • You may also explore some of our specialized equipment economics curriculum under the "Equipment Economics" tab in the menu at the top of this page.

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View Program Guide