The total cost of ownership aspects

There are two parts to this assessment.

1. Mind Map

Prepare a mind map that:

1- States what the scope of total cost of ownership covers.
2- Document 5 main cost elements that should be budgeted for.
3- Provides 2 potential negative effects of not correctly calculating what the total cost of ownership is.
For each cost element and potential negative it is not enough to simply state the cost / potential negative, e.g. “Capital Costs”, that needs to be qualified with detail. As a mind map that can be a series of sub-points that explain what is meant by “Capital Costs” and by using more than one word in the main point. The example used in A2W7 is still relevant.

2. Written Summary

In addition provide a written description (of between 600 and 800 words) that succinctly explains the reasoning behind your mind map, ensuring that appropriate referencing standards are followed.