Detailed estimates

The accuracy of a fixed capital estimate tends to be a function of the design effort involved. As the project definition is refined, the estimates evolve from the various preliminary phases, ie, order of magnitude, predesign, factor estimates, etc, into the more detailed estimates used for budget authorization, project control, and contracts. At the same time, the uncertainty in the estimate decreases from 50% to as Htfle as 5%. 

Methods are available for making detailed estimates of working capital (15). Shortcut ratios for estimating working capital are 15—20% of the fixed capital, 15% of the total capital, or 10—30% of annual sales. 

Total instrumentation cost does not vary a great deal with size and hence is not readily calculated as a percentage of basic equipment. This is particularly true for distillation systems. If in doubt, detailed estimates should be made. 

Estimating by weight requires virtually complete takeoff, including weight calculations and a bill record of past costs on this basis. Its only advantage hes in the time saved in the detailed estimates of the cost of piping components. 

Chiesa and Consonni [1 gave another detailed analysis for this plant in comparison with Cycle A1. They found that the efficiency dropped by 5% from that of the basic CCGT plant this is. somewhat surprising as the ab.sorption plant is smaller than that for Cycle A1 and it might have been expected that the penalty on efficiency of intrcxlucing the absorption plant would have been much less than that of Cycle Al. With this calculated efficiency and a detailed estimate of capital cost, the price of electricity was virtually the same as that of Cycle Al, i.e. 40% greater than that of the basic CCGT plant. 

Making a detailed estimate of the full loading of an object by a blast wave is only possible by use of multidimensional gas-dynamic codes such as BLAST (Van den Berg 1990). However, if the problem is sufficiently simplified, analytic methods may do as well. For such methods, it is sufficient to describe the blast wave somewhere in the field in terms of the side-on peak overpressure and the positive-phase duration. Blast models used for vapor cloud explosion blast modeling (Section 4.3) give the distribution of these blast parameters in the explosion s vicinity. 

With more and better information regarding the process and layout plans, estimating engineers can prepare detailed estimates which are often quite accurate, usually 10 percent for the best. It is the duty of the process designer to supply the best information in order to contribute to better or improved estimates. 

Definitive effort-hour estimating data is used to develop specific detail estimates. Composite effort-hour data is presented as a guide for quick estimating methods. All material quantities have been consolidated into an average for a given amount of material and do not include any specialty items. All effort-hour units and material quantities are based on a typical installation, and each material type should be reviewed carefully for various differences. 

Estimates were made by Uhlig in the USA. Worner in Australia, and Vernon in the UK, in which the cost of protection and prevention were added to the cost of deterioration due to corrosion. These early estimates were made by individual scientists from cost information from new major industries scaled up to a national level, and were of the order of 1-1.5% of GNP. More detailed estimates were subsequently made by the Committee on Corrosion and Protection (the Hoar Committee) in the UK, and Payer etal. for the National Bureau of Standards in the USA. The later estimates were around 3.5-4% of GNP, the higher figure reflected factors not covered in the earlier surveys, which were, moreover, based on organisations which had probably already taken action to minimise their corrosion costs. Estimates have since been made for other European countries which tend to confirm the higher figure. 

The cost of preparing an estimate increases from about 0.1 per cent of the total project cost for 30 per cent accuracy, to about 2 per cent for a detailed estimate with an accuracy of 5 per cent. 

We have used these indicators to estimate permeability values for surface soils in Spokane County, WA. A general soil map of this county is shown in Figure 5. The spatial extent of two soil associations, the Naff-Larkin-Ereeman association (area 1) and the Garrison-Marble-Springdale association (area 2), are shaded in the figure, and detailed estimates of air permeability for these two association have been made, as described briefly below. More information is given in Nazaroff el al.r (1986). 

When a domestic water well is drilled in the Province of New Brunswick, the well driller completes a Water Well Driller s Report outlining the well location, construction details, estimated water yield, and geology encountered. The report is forwarded to the DENV where the information is entered into the domestic well log database. 

Applications for particular uses of very high concern substances will be assessed at EU level, on the basis of the risk assessment submitted by the applicant, that covers all stages of the life-cycle for that use. The risk assessment is to focus on a more detailed estimation of exposure for the use, and generally no new safety... 

Best estimates are suggested for each property according developers criteria. See detailed estimates through each in the corresponding pages... 

Although field models generate detailed estimates of the effects of compartment fire environments, they are time consuming because of the enormous number of computations that are made. Some effects, such as radiation, can only be treated on a simplified level. In many instances, such a detailed solution is not needed, and simpler approaches are appropriate. Field models are useful to resolve problems that yield excessively conservative results when calculated using other model types. 

The emphasis of the current research is on molecular structure of oligomeric fractions leached from quality cured, industrial resins. However, the potential for applications in quality control should not be overlooked. Chromatography analysis provides positive feedback capable of molecular descriptions of extent of cure actually achieved. Oligomeric distributions coupled to kinetic reaction analysis allows for detailed estimates of crosslink architecture within the resin (7). 

Detailed estimate (firm estimate). Complete specifications, drawings, and site surveys for the plant construction are required, and the estimate has an accuracy of—5 to -1-10 percent. 

A document that indicates cleany what is provided in terms of technology, quality, schedule, and cost A basis in enough detail to be used in controlhng the project and its costs to permit proper evaluation of any proposed changes A device to permit subsequent evaluation of the performance compared to the intended performance A document to control the detailed estimate for the final design, construction, and design... 

Equipment Sizing Before equipment costs can be obtained, it is necessary to determine equipment size from material and energy balances. For preliminary estimates, rules of thumb may be used but for definitive and detailed estimates, detailed equipment calculations must be made. 

Detailed Estimate Method For estimates in the detailed category, a code of account needs to be used to prevent oversight of certain significant items in the capital cost. See Table 9-15. Each item in the code is estimated and provides the capital cost estimate then this estimate serves for cost control during the construction phase of a project. 

Service Facilities For a process plant, utihty services such as steam, water, electric power, fuel, compressed air, shop facilities, and a cafeteria require capital ejq)enditures. The cost of these facihties lumped together may be 10 to 20 percent of the fixed capital investment for a preliminary estimate. Note Buildings, yards, and service facihties must oe well defined to obtain a definitive or detailed estimate.)... 

ASPEN acquired ICARUS in 2000 and developed Process Evaluator based on Questimate that is used for conceptual design, known as front-end loading (FEL). More information on FEE and valueimproving process (VIP) is found later in Sec. 9. Basic and detailed estimates are coupled with a business decision framework in ASPEN-TECH ICARUS 2000. 

Many companies have developed their own factored estimates using computer spreadsheets based upon their in-house experience and cost database information that they have built from company project history. For detailed estimates, the job is outsourced to design-construction companies that have the staff to perform those estimates. 

Let us give more detailed estimate of residual. For vectors we use li norm x x,. The correspondent operator norm of matrix B is... 

This analysis provided qualitative information about possible alternative or competitive herbicides and revealed some important deficiencies that would remain, should the triazines be removed from the marketplace. However, a more quantitative approach was needed to provide detailed estimates of the costs that would be associated with regulation of the triazine herbicides. Due to the complexity and extent of triazine use, it was necessary to conduct a... 

Detailed estimates similar to Table XIX were carried out for each case. The results are summarized and compared on Table XX. Factors used for labor, maintenance, taxes, and insurance are typical of those used for analyzing long-term, large scale commercial projects. The capital charge factor, the yearly rate at which the investment is charged to the project, was chosen to provide about a 15% after-tax discounted cash flow (DCF) rate of return on investment based on reasonable and commonly used assumptions for projects of this type and magnitude. These assumptions are summarized on Table XVIII. 

Detailed estimate (contractor s estimate) based on complete engineering drawings, specifications and site surveys. Probable accuracy of estimate is about +5%. 

If the results of the preliminary design show that further work is justified, a detailed-estimate design may be developed. In this type of design, the COSt-and-profit potential of an established process is determined by detailed analyses and calculations. However, exact specifications are not given for the equipment, and drafting-room work is minimized. 

When the detailed-estimate design indicates that the proposed project should be a commercial success, the final step before developing construction plans for the plant is the preparation of a firm process design. Complete specifications are presented for all components of the plant, and accurate costs based on quoted prices are obtained. The firm process design includes blueprints and sufficient information to permit immediate development of the final plans for constructing the plant. 

The preliminary design and the process-development work gives the results necessary for a detailed-estimate design. The following factors should be... 

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