Purpose–The aim of the paper is to present and illustrate a new approach for long‐range
planning. Design/methodology/approach–Building on well‐tested frameworks such as
activity‐based costing (ABC), life‐cycle costing (LCC) and Monte Carlo methods as well as
earlier case studies, an approach is developed further and tested using a real‐life case.
Findings–The effectiveness of the approach is confirmed using a process‐oriented
framework (ABC) and introducing an LCC perspective. Monte Carlo methods are used to …