Life Cycle Cost Analysis

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Life Cycle Cost Analysis

When performing a cost analysis on a chemical process, usual considerations include the total installed cost of the plant and the annual operating costs. Many various costs are included in these two cost divisions. Unfortunately, other important costs have often been omitted due to the difficulty involved in predicting them. However, with today's advanced testing methods and a significant chemical process history to learn from, these "new" costs can be estimated with a higher degree of confidence than in the past. So what are these costs? Life cycle costs may include the following:

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Maintenance cost to alter design
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Labor cost involved with maintenance
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Losses from ceased production or off-grade product
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Salvage value of the plant