Economic evaluation: and

M. E. Frank and B. K. Schmid, "Economic Evaluation and Process Design of a Coal—Oil—Gas (COG) Refinery," paper presented at Symposium on Conceptual Plantsfor the Production of Synthetic Fuels From Coal, AIChE 65th Annual Meeting, New York, Nov. 26, 1972. 

An estimate of total product cost is an important part of economic evaluation and management planning. Total product cost can be viewed as the sum of the manufacturing cost and the general expense. 

Economic evaluation and feasibility check of generated alternatives. 

Three evaluative modes are discussed here cost-benefit analysis, cost-effectiveness analysis (and its recently distinguished variant cost-consequences analysis) and cost-utility analysis. Books by Drummond et al (1997) and Gold et al (1996)—the two most respected and widely cited texts on health economics evaluations—give excellent accounts of these modes of economic evaluation, and interested readers are referred to them for more advanced discussions. 

A problem long appreciated in economic evaluations, but whose seriousness has perhaps been underestimated (Sturm et al, 1999), is that a sample size sufficient to power a clinical evaluation may be too small for an economic evaluation. This is mainly because the economic criterion variable (cost or cost-effectiveness) shows a tendency to be highly skewed. (One common source of such a skew is that a small proportion of people in a sample make high use of costly in-patient services.) This often means that a trade-off has to be made between a sample large enough for a fully powered economic evaluation, and an affordable research study. Questions also need to be asked about what constitutes a meaningful cost or cost-effectiveness difference, and whether the precision (type I error) of a cost test could be lower than with an effectiveness test (O Brien et al, 1994). 

For small projects, and for simple choices between alternative processing schemes and equipment, the decisions can usually be made by comparing the capital and operating costs. More sophisticated evaluation techniques and economic criteria are needed when decisions have to be made between large, complex projects, particularly when the projects differ widely in scope, time scale and type of product. Some of the more commonly used techniques of economic evaluation and the criteria used to judge economic performance are outlined in this section. For a full discussion of the subject one of the many specialist texts that have been published should be consulted Brennan (1998), Chauvel et al. (2003) and Vale-Riestra (1983). The booklet published by the Institution of Chemical Engineers, Allen (1991), is particularly recommended to students. 

For bioremediation, an initial feasibility study is always recommended, and the determination of nutrient requirements should be part of this study. The actual requirements are very much dependent upon the type of contaminants, which are often a mixture of compounds of variable biodegradability, and on the availability of nutrients in the specific contaminated soil, and should be determined with appropriate laboratory tests. However, there are guidelines that provide a useful basis for initial economic evaluations and for calculating ranges to be tested during the laboratory tests. 

Palarski J. and Lutynski M. Capacity of an abandoned coal mibe converted into high pressure C02 reserovir. Economic evaluation and risk analysis of mineral projects, London, UK. 2008 Taylor Francis. 

In summary, many alternative poly(3HB) and poly(3HB-co-3HV) producing strategies have been demonstrated in the past which might be considered for economic evaluation and future production processes. However, it should not be forgotten that all of these bacterial processes may some day have to compete with future alternative processes based on the production of poly(3HB) and poly(3HB-co-3HV) in transgenic plants [38-40]. 

So far we have explained how to estimate capital and operating costs. In Example 3.3, we formulated an objective function for economic evaluation and discovered that although the revenues and operating costs occur in the future, most capital costs are incurred at the beginning of a project. How can these two classes of costs be evaluated fairly The economic analysis of projects that incur income and expense over time should include the concept of the time value of money. This concept means that a unit of money (dollar, yen, euro, etc.) on hand now is worth more than the same unit of money in the future. Why Because 1000 invested today can earn additional dollars in other words, the value of 1000 received in the future will be less than the present value of 1000. 

Pannell, D.J. and Glenn, N.A. 2000. A framework for the economic evaluation and selection of sustainability indicators in agriculture. Ecological Economics 33(1) 135-149. 

H. Gregor Rigo attended Ohio University and earned his Ph.D. in mechanical and environmental engineering from the University of Illinois. He is currently president of Rigo Rigo Associates, Inc., in Berea, Ohio. He has extensive experience in plant start-up, process and environmental engineering, and applied statistics focused on the use and control of emissions from nontraditional fuels technical, environmental, and economic evaluations and multipathway health risk assessments. 

This article describes the chemical hydride slurry approach for production and storage of hydrogen and the major components required of the chemical hydride slurry cycle. We have included a discussion of the preliminary economic evaluation and an overview of the work performed for mobile applications of the technology. 

Evangelista, R. L., Kusnadi, A. R., Howard, J. A., and Nikolov, Z. L. (1998). Process and economic evaluation and purification of recombinant /3-glucuronidase from transgenic corn. Biotechnol. Prog. 14, 607-614. 

The capital investment for any FBC plant depends upon several factors, including the cost of capital, size of unit, geographic location, and coal type. EPRI has completed several economic evaluations and projects the following costs, in 1994 US dollars, for plants located in Kenosha, Wisconsin, burning Illinois No. 6 bituminous coal contain-ing 4 percent sulfur 200-MWe circulating AFBC, 1520/kW 350-MWe bubbling PFBC, 1220/kW 350-MWe circulating PFBC, 1040/kW 320-MWe advanced PFBC, 1110/kW. The advanced PFBC has the most potential for cost reduction, and capital investment could be reduced to below 1000/kW. 

Hessel, F.P., Mltzner, S.R., Rief, J., Gnellstorff, B., Steiner, S., Wasem, J. Economic evaluation and 1-year survival analysis of MARS in patients with alcoholic liver disease. Liver Internal. 2003 23 66-72... 

R. W. H. Sargent, J. D. Perkins, and S, Thomas, "Speedup Simulation Program for Economic Evaluation and Design of Unified Processes, in Computer-Aided Process Plant Design, M. E. Leesley, ed., Gulf Publishing Company, Houston, 1982. 

In addition, you may have to insert a preferred calculation order for the modules. When economic evaluation and optimization are being carried out, you must also provide cost data and optimization criteria. 

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