Cost-Effectiveness Methodology for Maritime Patrol Aircraft

Cost-Effectiveness Methodology for Maritime Patrol Aircraft

This paper presents a formalized methodology for conducting cost-effectiveness analysis on the ROK Navy's maritime patrol aircraft. The methodology involves a Delphi method application for determining the group of appraisal variables as well as their weight values in the area of aircraft effectiveness analysis, Life-cycle costing was employed to produce cost in terms of present worth values of all costs that occur over the common 20-year life cycle. A wide range of experts was selected so that their opinions could be effectively collected and synthesized to form the framework of the effectiveness model. Such a model development strategy provides easy acceptance of the analysis result and assure fairness of the analysis.