Options period

The diagram highlights for each caplet the difference between the option period and the protection period. For example, the last caplet has a 4.5 year option period during which interest rates can vary and expose the company to risk. When the caplet expires, the caplet provides compensation over the 6-month protection period if the EURIBOR setting at the outset of that period exceeds the strike rate. 

Periodic operation of the Fischer-Tropsch synthesis may be another option. Periodically changing one or more variables such as feed composition or feed rates could lead to... 

Find a way to overcome the constraint while still maintaining the areas. This is often possible by using indirect heat transfer between the two areas. The simplest option is via the existing utility system. For example, rather than have a direct match between two streams, one can perhaps generate steam to be fed into the steam mains and the other use steam from the same mains. The utility system then acts as a buffer between the two areas. Another possibility might be to use a heat transfer medium such as a hot oil which circulates between the two streams being matched. To maintain operational independence, a standby heater and cooler supplied by utilities is needed in the hot oil circuit such that if either area is not operational, utilities could substitute heat recovery for short periods. 

The cost of the capital depends on its source. The source of the capital often will not be known during the early stages of a project, and yet there is a need to select between process options and carry out preliminary optimization on the basis of both capital and operating costs. This is difficult to do unless both capital and operating costs can be expressed on a common basis. Capital costs can be expressed on an annual basis if it is assumed that the capital has been borrowed over a fixed period (usually 5 to 10 years) at a fixed rate of interest, in which case the capital costs can be annualized according to... 

Introduction and Commercial Application The production decline period for a field is usually defined as starting once the field production rate falls from its plateau rate. Individual well rates may however drop long before field output falls. This section introduces some of the options that may be available, initially to arrest production decline, and subsequently to manage decline in the most cost effective manner. 

In high permeability reservoirs, wells may produce dry oil for a limited time following a shut-in period, during which gravity forces have segregated oil and water near the wellbore. In fields with more production potential than production capacity, wells can be alternately produced and shut in (intermittentproduction) to reduce the field water cut. This may still be an attractive option at reduced rates very late in field life, if redundant facilities can be decommissioned to reduce operating costs. 

The editor provides two modes for drawing the structure and the draw mode. This distinction is important for differentiating chemical information from conventional drawings. Both modes are switchable and provide an extensive set of features in the menu bar to create chemical structures and reactions, or just drawings. The number of options can be quite confusing for beginners however, one becomes accustomed to them after a short period of vocational adjustment. 

In order to allow any multiple chlorination of the biphenyl skeleton, the user may define an atom list (eonsisting of hydrogen and chlorine atoms) and substitute all H-atoms by this list. One may click on the drop-down selection box behind the element icons, select the options Generics. .set the user-defined atom to A1 and quit by the OK button. As a result this atom selection is active for the subsequent drawing steps. After this atom list is drawn ten times as the ten substituents, its composition has to be defined by clicking the A, icon on the left-hand side of the structure editor and by selecting H and Cl in the periodic table (Figure 5-16). 

IlyperChem avoids th e discon tin nily an d, in isotropy problem of th e implied cutoff by iin posing a sin oothed spherical cn toff within the implied cutoff. When a system is placed in a periodic box, a switched cnLoITis aiitoinatically added. The default outer radius, where the interaction is completely turned off, is the smallest of 1/2 R., 1/2 R.. and 1/2 R, so that the cutoff avoids discontinuities and is isotropic, fh is cutoff may be turned off or modified in the. Molecular Mechanics Options dialog box after solvation and before calcii lation. ... 

HyperChem run s the molecular dynain ics trajectory, averaging and analyzing a trajectory and creating the Cartesian coordinates and velocities, fhe period for reporting these coordinates and velocities is th e data collection period. At-2. It is a m iiltiplc of the basic time step. At = ii At], and is also referred to as a data step. The value 1I2 is set in the Molecular Dynamics options dialog box. 

TlyperCi hem updates the screen diirin g a trajectory at regular in ter-vals so yon can visiiali/e the irajectory. Since this screen update may slow down a trajectory If it occurs too frequently, yon c.an specify the duration of the Screen Refresh period At.,. The screen updates at ilines tQ, Iq + Atj, to + 2Atj, etc. The Screen Refresh period is specified in the Molecular Dynamics options dialog box by n 5 data steps, i.e. as a m iiliiplc of the data collection period, At5 = n 5 At2-... 

To create a set of snapshots of any molecular dynamics run, press the Snapshot button of the Molecular Dynamics Options dialog box to bring up the Molecular Dynamics Snapshots dialog box for naming a snapshot file. A snapshot file contains snapshots of the coordinates and velocities of a molecular system along the trajectory. The dialog box allows you to name the file and decide at what frequency to take snapshots. For example, choosing the snapshot period to be two data steps implies that only every other time step is stored in the snapshot file. 

Fig. 1. Sample period options, where each letter, A through E, represents a separate sample.

The (A/-alkylated) lactam of 8-aminonaphthalenecarboxylic acid (47) also is a valuable dye iatemiediate, eg, for cyclometbine-type dyes used for dyeiag polyacrylonitrile fibers and other synthetics. 1,8-Naphtholactams are prepared in high yield and purity by the reaction of naphtholactones with RNH2 (R = H, Cl—4 alkyl, cycloalkyl, or optionally substituted aryl) in aqueous medium, usually in the presence of bisulfite at 150°C over a period of 15 h (143). 

There is mote than one way to make PV systems cost effective, ie, by making mote efficient and less expensive devices, by stimulating the market toward higher sales in order to justify production volume increases to achieve economies of scale, and by combinations of these options. In any case, modules must operate tehably for long periods of time. 

The Imass Dynastat (283) is a mechanical spectrometer noted for its rapid response, stable electronics, and exact control over long periods of time. It is capable of making both transient experiments (creep and stress relaxation) and dynamic frequency sweeps with specimen geometries that include tension-compression, three-point flexure, and sandwich shear. The frequency range is 0.01—100 H2 (0.1—200 H2 optional), the temperature range is —150 to 250°C (extendable to 380°C), and the modulus range is 10" —10 Pa. 

If an option proves to be technically ineffective or inappropriate, it is deleted from the list of potential alternatives. Either follo ving or concurrent with the technical evaluation, an economic study is performed, weighing standard measures of profitability such as payback period, investment returns, and net present value. Many of these costs (or, more appropriately, cost saving may be substantial yet are difficult to quantify. (Refer to Economic Considerations Associated with Pollution Prevention.)... 

When the number of measurement sets is substantially less than that indicated Fig. 30-25, the interpretation becomes problematic. One option is to use the parameter v ues from one period to describe the measurements from another. If the description is within measurement error, the operation has not changed. If there is a substantial difference between the predictions and the measurements, it is hkely that the operation has changed. Methods such as those developed by Narasimhan et al. (1986) can be used when the number of measurements are large. When implementing automatic methods to treat a large number of measurements, analysts should ensure that the unit is at steady state for each time period. 

Now that you have determined the likely savings in terms of annual process and waste-treatment operating costs associated with each option, consider the necessary investment required to implement each option. Investment can be assessed by looking at the payback period for each option that is, the time taken for a project to recover its financial outlay. A more detailed investment analysis may involve an assessment of the internal rate of return (IRR) and net present value (NPV) of the investment based on discounted cash flows. An analysis of investment risk allows you to rank the options identified. 

Consider the environmental benefits and the savings in process and waste-treatment operating costs, along with the payback period for an investment, to decide which options are viable candidates. Once this is done, the audit team can develop draft recommendations to include in the final report and presentation to top management. 

In considering either multiple payments or cash into and out of a company, the present values are additive. For example, at 6 percent interest, the present value of receiving both 1,000 in one year and 1,000 in three years would be 943.40 + 839.62 = 1,783.06. Similarly, if one were to receive 1,000 in one year, and pay 1,000 in 3 years the present value would be 943.40 - 839.62 = 103.78. It is common practice to compare investment options based on the present-value equation shown above. We may also apply one or all of the following four factors when comparing investment options Payback Period Internal Rale of Return Benefit-to-cost Ratio and Present Value of Net Benefit. But as we will see later, it is rate of return that is usually the most enlightening when considering an investment. 

Ranking equipment and teehnology options for an intended applieation then beeomes a matter of seleeting those projeet options with the shortest paybaek period. So, for example, if we compare a baghouse versus an electrostatic filter for a dust control application, an overall payback period for each option can be determined based on the capital investment for each piece of equipment, operating, maintenance, power costs, and other factors. 

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