Computerized cost estimation

A convenient way to display cost-capacity data is by algorithms. They are readily adaptable for computerized cost estimation programs. Algorithm modifiers in equation format may be used to account for temperature, pressure, material of construction, equipment type, etc. Equation (9-2) is an example of obtaining the cost of a shell-and-tube heat exchanger by using such modifiers. 

A manpower cost estimate for commissioning staff is a usual element of the overall project costing for tender or budget purposes. It takes lull account of all disciplines involved in commissioning, the hours including overtime that they may work, the back-up services that they need and the site allowances, travel and acconunodation costs which they will be paid, previous experience of similar plants is valuable for diis puipose. Such information may be available as a computerized database. 

To calculate the total costs to provide a service, consider how much pharmacist and supportive personnel time will be involved in offering the service, as well as fixed costs and per-patient costs. One way to estimate how much time will be spent on providing direct patient care is to consider the time spent with each patient and how many patients will be targeted. The pharmacy s computerized database may be able to be supply the number of clients on a specific medication or with a specific health condition. This may help to estimate the number of potential patients for the service. This step is important because one of the first targets for a new value-added service can be the pharmacy s existing clientele. This will also ensure that there is an adequate population of patients to support such a service. Of course, one of the goals of offering a new service may be to increase the number of clients attracted to the pharmacy and therefore to increase prescription volume or prescription-related purchases. A... 

The computerized method is an excellent tool for conceptual and even preliminary estimates but should not be used for definitive estimates unless applied by experienced estimators fully familiar with the algorithms and unit prices built into the program for developing takeoffs and calculating material costs and labor hours. 

The attached list provides costs of miscellaneous equipment frequently used in chemical plants. They were extracted from a widely used computerized estimating program ... 

An added benefit of Monte Carlo analysis is that a common by-product of this computerized examination is a sensitivity analysis that shows how much each predictor variable contributed to the uncertainty or variability of the predictions. This, in turn, tells both the risk assessor and risk manager which portion of the variability is from natural fluctuation versus how much is caused by lack of knowledge. Given this information, decisions can be made as to where the most cost-effective allocation of resources may occur to refine the estimate of exposure and risk. In the example, the sensitivity analysis shown in Figure 4 presents the apportionment of variance for the model. 

The construction period required for the first module of the N -of-a-kind standardized GT-MHR plant is estimated to be -3 years based on experience information from serial construction of identical design nuclear plants (in France as well as in the USA), and assuming the use of the 10CFR52 one-step licensing process as well as modern (computerized) plant construction practices. The GT-MHR N -of-a-kind plant 20 year levelized busbar generation cost is projected to be 3.1 cents/kWh (2003 US ) including capital, O M, fuel, waste disposition and decommissioning. 

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