Archives :: Business & Economics :: Cost Engineering
June 1, 2014
Cost estimation is a critical dimension of project planning in asset-heavy industries such as the chemical process industries (CPI). Construction cost indices are useful tools in cost estimation and are used to compare plant construction costs from one time period to another. Understanding them can improve the accuracy of the cost estimates, as well as the effectiveness with which they are applied. This...
April 24, 2014
Most chemical processes are born in the laboratory. The challenge for engineers is to then convert the laboratory method into a large and economically sound industrial process. Unfortunately, many promising technologies never see the light of day; some because of perpetual piloting programs aimed at solving minute process issues, others due to unanticipated technical problems resulting from fast-tracking...
September 27, 2011
In today’s economy, businesses have become more cash-conscious. The focus on expenses has become increasingly important to the bottom line. Typically, the top three business expenses are wages, raw material costs and taxes. If jobs are cut, or raw material purchases are reduced, margins may be salvaged in the short term, but over a period of time, lack of inventory and production shutdowns can prove...
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