Explanation

Through-life management is a approach applied to capital asset. According to Ward and Graves, Through-life Management involves the life-cycle management of the products, services and activities required to deliver a fully integrated capability to the customer, while reducing the cost of ownership for the customer. According to CIPS study guide, through-life management comprises of 6 parts:

1. Design

2. Manufacture

3. Installation

4. In-service support

5. Decommission and disposal

6. Customer support

In this scenario, the company is planning to procure a ship, which is a capital asset. Through life management is a good approach. Sealines can start with developing through-life specification. This approach may have several benefits:

- It lowers the costs over the whole life of the asset

- It lowers the risks as there is a single company accountable for costs and service over the life of the asset

- A closer match between the asset delivered and the users' needs

- Development of capability over the life of the asset as the supplier continues to get experience of the users' needs and can adapt services to meet them.