Abstract
A necessary parallel function to any design activity for a chemical process plant is its economic evaluation. Design projects must satisfy the requirements of such appraisals, so that commercial feasibility of proposed processes can be maintained. Economic assessments are often repetitive, using different levels of precision and different information bases. First, a proposed configuration is examined for feasibility, then alternative processes are compared as the process idea develops from its origin towards detailed design and ultimate realization. Throughout the life of a project, several evaluations are made to provide design engineers with the following requirements: • Equipment item and total plant cost estimates • Operation cost estimates • Manufacturing cost estimates • Profitability analyses • Sensitivity analyses to both economic and design parameters This paper describes the use of a computer program for project evaluations which can be used by process designers and cost engineers to obtain reliable cost estimates for proposed processes.
Published Version
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