Home  Journals  Economic Analysis: Theory and Practice  4(559) - 2025 April

A cost management model for the lifecycle of energy facilities using digital twins in the total cost of ownership concept

Received: 21 October 2024

Accepted: 13 January 2025

Available online: 15 April 2025

Subject Heading: EVALUATION OF INVESTMENT PROJECTS

JEL Classification: L25, Q22, Q47

Pages: 101-123

https://doi.org/10.24891/ea.24.4.101

Subject. The article discusses the research of total cost of ownership models for industrial enterprises.
Objectives. The purpose is to develop a digital twin model for domestic industrial enterprises, including those in the nuclear industry.
Methods. The development of a cost management model for the life cycle of energy facilities using digital counterparts in the total cost of ownership concept is particularly relevant in modern conditions. The introduction of such models enables to significantly increase the efficiency and stability of energy systems, optimize costs and management. The "total cost of ownership" concept is analyzed from the standpoint of the systems approach.
Results. We underpinned the need for creating a reliable model using digital twins. It helps reflect enterprise’s ability to develop available and potentially available resources at all stages of asset's life cycle.
Conclusions. The cost accounting scheme for the total cost of ownership of an asset ensures its dynamic use to assess the effectiveness of the enterprise. The scientific and practical contribution of the research is manifested in improving the efficiency, reliability and stability of the energy system, especially in complex and remote regions.

Keywords: total cost of ownership, digital twin

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