Updating the ce plant cost index
This behavior can often be captured with a power law expression: ................................2.10 Where the exponent is less than one, often about 0.6 to 0.7, and S0 and C0 are the base capacities and costs, respectively.
For pressure vessels, for instance, the service capacity depends on volume, while the cost depends on the weight of the metal (surface area).
HAZOP at came across a cost estimating program that some of you Lang and Guthrie fans may be interested in.
Representative UF for 2009 for base cost index of 1957-59 is calculated to be 6.034.
For preliminary design calculations, we note that Base costs (BC) increase nonlinearly with equipment size (S) or capacity.
Check out download a 15 session maximum, almost fully functional demo of estpro.
The help and manual files are worth reading since they discuss the development of the Lang and subsequent Guthrie approach to process plant cost estimating. You could probably run a few real estimates on the demo.
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For preliminary design calculations the bare module cost (BMC) is calculated from the following formula BMC = Uf (MF MPF - 1) (BC) (For vessel and reboiler)....2.6 BMC = UF (MPF) (BC) (For Tray Stack and condenser)......2.7 Where We apply an update factor to account for inflation.