Science topic

Costs and Cost Analysis - Science topic

Costs and Cost Analysis is an absolute, comparative, or differential costs pertaining to services, institutions, resources, etc., or the analysis and study of these costs.
Questions related to Costs and Cost Analysis
  • asked a question related to Costs and Cost Analysis
Question
4 answers
I am doing a project on optimal sizing of a PV-Hydro hybrid power plant. While optimizing the size of the Hydro Power Plant, I got stuck while calculating the variable cost for the Hydro Power plant. In a case, If a Hydro Power Plant is running below it's rated capacity, the operating/running cost will be lower than the operating/running cost when the plant is running at rated capacity. That's why I consider it as variable cost.
So, I am confused how to calculate the operational cost of Hydro Power Plant when it is not running capacity?
Any valid formula/process to calculate the variable operation cost will be okay.
Relevant answer
Answer
If you are searching for the optimal sizing of a PV-Hydro power, it is a planning problem rather than a scheduling problem. While finding the capacity of the hydropower, you have to consider the constraint that the peak power of all the yearly load must be lower than the maximum capacity of PV and Hydro (and considerer some operational reserves). You have then to consider the investment costs of PV and hydro, and the operational and maintenance costs of PV and Wind, to find the best NPV.
  • asked a question related to Costs and Cost Analysis
Question
6 answers
The interest is to collect the different points of view in technical, economic and environmental terms on the two systems used for the production of energy.
Relevant answer
Answer
Ahmed,
CSP could compete with PV only when storage comes into the equation. PV is the cheapest source of electricity according to the latest IEA report, but to make an apples to apples comparison, you will have to compare the 2 technologies by including PV + storage. The advantage of CSP is thermal storage which can serve as baseload. CSP technology however, has more moving parts compared to PV, and more moving parts translate into lower reliability. Furthermore, due to the concentrating optics, only the direct component of irradiance can be utilized by CSP.
I think the best way to view this is not with respect to competition, but rather one technology complimenting the other in a larger renewable energy mix, assuming locations with high irradiation.
Best,
Marios
  • asked a question related to Costs and Cost Analysis
Question
8 answers
When calculating a budget or a risk reserve, a simulation or estimation is performed.
Sometimes the Monte Carlo simulation is used.
It seems that each administration and each company uses different confidence percentiles when summarising the simulations in order to take a final decision.
Commonly, 70%, 75% or 80% percentiles are used. The American administration uses 60% for civil works projects...
My doubt is, is there any recommendation or usual approach to choose a percentile?
Is there any standard or normalized confidence percentile to use?
I expected to find such an answer in the AACE International or International Cost Estimating and Analysis Association, but I did not.
Thank you for sharing your knowledge.
Relevant answer
Answer
I believe setting confidence intervals is more of an art than an exact science. It really depends on how important it is that something remains within the confidence interval, but there are no real quantitative standards.
If going over budget almost certainly means default you may want to base risk reserves on a high percentle. If default is not imminent, like with governmental institutions, the percentile may be set lower.
  • asked a question related to Costs and Cost Analysis
Question
6 answers
I am looking for a cost analysis of the manufacturing of Timetal for automotive exhaust systems. I am also interested in the manufacturing process itself.
It would be great if you could provide some documents.
Thanks to everybody.
Relevant answer
Answer
Oh, sorry, I don't have the information on it .
  • asked a question related to Costs and Cost Analysis
Question
3 answers
In my optimization project, i am trying to minimize life-cycle costs of a road project by aligning the road in an optimum path. So as i mentioned in the question i need one or more formulas or methods giving floodplain conservation cost, average annual damage cost and etc, to use them in my objective function.
Thank you!
  • asked a question related to Costs and Cost Analysis
Question
3 answers
Hello People,
Even after working for years in Cost-sensitive classifiers, I still wonder how to derive cost-matrix?
Can you guide me for the same?
Any reference link or some research paper or white paper to derive cost-matrix for given dataset?
Please help.
Regards
--
Ankit Desai
Ph. D. Scholar,
Ahmedabad University, Gujarat, India.
Relevant answer
Answer
sir the link you have given is not working, please can you give me another link
  • asked a question related to Costs and Cost Analysis
Question
4 answers
To determine the costs of feed in israeli milk production I am interested of the amount of roughage, TMR and byproducts that an average dairy cow consumes in Israel.
Relevant answer
Answer
Please have a look at the following link and PDF attachments.
  • asked a question related to Costs and Cost Analysis
Question
5 answers
in the area of exergoeconomics the cost related data and related equations are generally taken from literature some of which are dated to be from 1996 at which time the basic equations were developed. Most of the researchers are directly citing and adopting these equipment purchase cost equations directly without any correction factor to take into account the cost rise/fall from 1996 to 2016.
Query 
The publication dates for the references [26, 27, 28] quoted as the sources for the cost equations vary from 1996 to 2016. Where costs are concerned it is important that a common basis should be given (e.g. 2017 US$). Even that gives rise to a range of possible figures as the $ varies through the year. Please discuss.
[26]  Bejan A, Tsatsaronis G, Moran M. Thermal design and optimization. New York, Wiley, 1996.
[27]  Mohammad Ameri, Pouria Ahmadi and Armita Hamidi. Energy, exergy and exergoeconomic analysis of a steam power plant: A case study. Int. J. Energy Res. 2009;33:499–512.
[28]  Amin Mohammadi Khoshkar Vandani, Fatemeh Joda, Ramin Bozorgmehry Boozarjomehry. Exergic, economic and environmental impacts of natural gas and diesel in operation of combined cycle power plants. Energy Convers Mgmt. 2016;109 :103–112.   
May I request you all to suggest a response to this query which is very fundamental to area of thermoeconomic/exergoeconomic research?
Relevant answer
Answer
Dear Mithilesh
You can use different cost indexes for different years (like Marshal and swift index for example). In fact it is an inflation indicator. Using cost indexes, it is easy to bring all cost data to the same reference year. I mean:
Cost at the reference year = Original cost *(cost index for the reference year / cost index for the year when the original cost was obtained)
In your case the original cost refers to the cost of 1996.
More information is available at :
Bejan A, Tsatsaronis G. Thermal design and optimization. John Wiley & Sons; 1996.
  • asked a question related to Costs and Cost Analysis
Question
6 answers
Investment Cost
Construction Cost
Maintenance Cost
Operation Cost
Relevant answer
Answer
You can go for any option from fluidize aerobic bioreactor, that requires small land area and relatively less maintenance.
  • asked a question related to Costs and Cost Analysis
Question
10 answers
Can a risk premium be negative after the fact?
Relevant answer
Answer
Under a real world scenario it is very unlikely as a rational investor will not take additional investment risk (risk premium) without higher level of expected returns.
  • asked a question related to Costs and Cost Analysis
Question
3 answers
Cement job evaluation is a crucial operation during well construction and P&A. Acoustic logs are used for cement job evaluation. But I am interested in application of X-ray. Is there any one with publication on it?
Relevant answer
Answer
Dear Mahmoud,
as you write of  X-ray, that you mean a specific test method? As eg..:
X-Ray Diffraction (XRD)
X-Ray Microtomography (XRMT)
Energy-Dispersive X-ray Dpectroscopy (EDS)
  • asked a question related to Costs and Cost Analysis
Question
3 answers
i am developing a trading strategy and want to apply it to the FX market. i did include the bid and ask price in my model.
however, i want to compute the transaction cost as well. 
any reference to specific article/ methodology/..etc is appreciated.
all the best 
Relevant answer
Answer
There is a very large literature on market microstructure of the FX market. S. Pasha and I also did a few papers on this topic.
  • asked a question related to Costs and Cost Analysis
Question
5 answers
i have gone through a number of articles which have used this approach but they are not clear in how costs were assigned to different cost centres.
Relevant answer
Answer
Hello Shahid Raina,
please check the given attachments.
  • asked a question related to Costs and Cost Analysis
Question
2 answers
regarding optimum solution, we are implementing algorithm in workflowsim,
steps to find processing cost
random allocation start;
cost+=cloudlet.getProcessingCost(); // is this way right to find processing cost.
after getting processing cost, how we allocate solution from among solutions,
which has minimum cost.
Relevant answer
Answer
I definitely recommend You usage of transportation problem including additional criteria like time lapse between operations in workflow or level of units queues. You can also combine transportation algorithm with any other, for example taken from queuing theory.
  • asked a question related to Costs and Cost Analysis
Question
10 answers
1. Cost of quality (COQ), quality related cost, 
2. Lifecycle cost (LCC)
3. Total ownership cost (TOC)
Relevant answer
Answer
Dear Zhou,
Cost of quality is the economic value of all activities/resources needed to achieve quality.  Many authors recognize four types of quality costs:
1. prevention costs, such as personnel training, product/service design, supplier selection.
2.. appraisal costs are those related to quality assurance and quality control activities carried out during or at the end the production process (process/product inspections or lab tests)
3. internal failure costs: the economic value of activities related to the occurrence of failure in products or service (reprocessing, product repairing, waste, extra man hours, etc.)
4. external failure costs: related to activities an organization has to undertake when the client detects a failure in our product or service (warranties, legal actions, replacement, extra freights, etc.)
You cannot expect to reach zero COQ, but the manager's task is to minimize total COQ, by an optimal combination of the four types of costs.
Many authors also recognize intangible costs, like sales lost to actual and future clients.
Unfortunately, I'm not an expert in LCC or TOC, but I hope you'll find my answer a littel helpful.
Kind regards,
  • asked a question related to Costs and Cost Analysis
Question
2 answers
Hi researchers, what is the best method for min cost flow max in term of precision, tims of execution, and memory capacity...
Thank you.  
Relevant answer
Answer
Check out the site
which has a rather nice description of how you do it efficiently.
  • asked a question related to Costs and Cost Analysis
Question
1 answer
I am interested to know if conventional probabilistic production costing models are still in use by the deregulated electricity industry? Do reliability indices such as the Loss of Load Probability (LOLP) and Expected Energy Not Served (EENS) are still useful concepts or have gone through some modification/changes? I am more interested to know the industry practice rather than the academic exercises.
Relevant answer
Answer
I recommend that you contact the Accounting Department of any large investor-owned utility (IOU) in the United States to get some answers to your questions. I would certainly contact more than one IOU. Here are some links to the websites of some of the biggest U.S. IOUs:
American Electric Power: http://www.aep.com/ 
Edison International: http://www.edison.com
NextEra Energy Inc.: http://www.nexteraenergy.com/
Southern Company: http://www.southernco.com/
I hope these links are helpful. Good luck!
  • asked a question related to Costs and Cost Analysis
Question
5 answers
I am a final year student and i need this information for my final year project 
Relevant answer
Answer
i am agree to Mr. Omar
  • asked a question related to Costs and Cost Analysis
Question
3 answers
Template of Cost breakdown structure for a Healthcare/Health management project.
Relevant answer
Answer
Thanks Rebecca.. I am reviewing Assessment of Cost Trends... PDF file, that you uploaded. I think, It will be quite helpful. Best regards
  • asked a question related to Costs and Cost Analysis
Question
6 answers
Is there a research that has established, e.g., a 'percentage-range' which can be used as the basis for estimating target cost? A reference/link to an article would be appreciated. 
Relevant answer
Answer
Many factors influence the target cost of an engineering consumer product. One such influencing factors is an introduction timing into the consumer market. 
I have studies the influence of market timing on target costs. It is discussed in the following paper. Take a look...
  • asked a question related to Costs and Cost Analysis
Question
6 answers
The scientific validity of the manufacturing business survey?
Conversion of data information to be obtained from the qualitative study?
Relevant answer
Answer
Hi, 
If the topic under study is new, not covered in the literature, and there is no available instruments to measure it  then you need to do Qualitative approach. It is more exhaustive than quantitative approach.
Otherwise, you may do triangulation methodology; which means you do both qualitative and quantitative methods in the same study.
Good luck
  • asked a question related to Costs and Cost Analysis
Question
8 answers
How do you see the possible practical application of a balanced scorecard for auditing firms? Can you provide references for published articles or research studies in this respect?
Relevant answer
Answer
Thank you all for your kind suggestions. However, I am more interested to identify obstacles or limitations for the practical application of the BSC for audit firms ? As an example of what I think of there are contradictions between auditors maintaining their independence and trying to satisfy their clients or providing value added services. What might be the other factors which should be considered when developing a BSC in this respect
  • asked a question related to Costs and Cost Analysis
Question
3 answers
what parameters can be considered that helps in designing cost function in VANETs for finding always best connected network ?
Relevant answer
Answer
The parameters are based on your idea and scenario such as urban or highway. Secondly, for urban environment the parameters are related to traffic such as density, street maps, vehicle direction, velocity, junctions, radio range, link quality. 
I think, you will discuss your idea first, then on the basis of your idea I will suggest parameters to you. Hope this answer help you for further process. 
  • asked a question related to Costs and Cost Analysis
Question
2 answers
e.g. the BLCC software developed by the National Institute of Standards and Technology (NIST) for the US Dept of Energy's Federal Energy Management Program (FEMP).
Relevant answer
Answer
Thankyou..Your reply is appreciated.
  • asked a question related to Costs and Cost Analysis
Question
4 answers
Simulation of costs of climate policies into the future (2100) turns a -ve Mean value for a particular policy, out of four, what would be the best explanation for this -ve Cost?
Also, for this policy, the standard deviation is much higher with respect to the Mean, how do you explain this considering all the policies are run under the same simulation condition and the source data are secondary from a very reputable repository?
Relevant answer
Answer
Thank you both for the attempts at answering my question. I am however happy to inform you that I may have resolved the riddle, and this is by running my test based on a Monte Carlo simulation that ensured I could have a full spectrum of all the available outcomes. Thus, making it possible to choose based on confidence levels, neglecting the negative costs, which after all, are just some occurrences on a probability density.
Regards, Ayodele.
  • asked a question related to Costs and Cost Analysis
Question
5 answers
Steel reinforced concrete is the main material to build todays bridges and highways. The maintenance costs of such buildings are very high and they are permanently increasing because of ongoing corrosion during their lifetime.
Relevant answer
Answer
The cost of repairing the damaged structure using FRP can be very expensive as can be seen in the rehabilitation of MRR2 project in Malaysia. In Universiti Teknologi Malaysia, research on repairing of damaged structure by using pre-tensioned low-cost steel straps available in packaging industry has been carried out. Results showed concrete structure improvement comparable to FRP confinement. With the introduction of this method, the cost of repairing damaged concrete can be significantly reduced.
  • asked a question related to Costs and Cost Analysis
Question
3 answers
I am working on efficiency measurement of Cement companies in India usig DEA analysis. Can any one please help me to identify output(s) and inputs(s) variables for my analysis?
Relevant answer
Answer
Dear Subir,
This depends upon what type of cost efficiency you are trying to find out. If its human resource then input will wages , salaries etc.. If you are talking about overall cost efficiency then it will depend upon what type of data is available with you. If you are having only secondary data then the cost of wages, raw materials, transportation, selling expenses etc will be inputs and out puts will be the revenue generated or you can also take cash flow from operations and profitability as outputs. The gist is that its the type of efficiency that needs to be measured will determine the inputs and outputs. DEA can give results with any input and output.
  • asked a question related to Costs and Cost Analysis
Question
15 answers
- Identifiying Cost Driver for Activity Based Costing (ABC) in Management Accounting (for internal controlling)
- Cost Driver (in German: "Kostentreiber") in addition to Cost Type ("Kostenart"), Cost Center ("Kostenstelle") and Cost Object ("Kostenträger")
- Cost Driver as defined by AccountingCoach: http://www.accountingcoach.com/blog/what-is-a-cost-driver
Relevant answer
Answer
I presume you are referring to "drivers" to calculate the costs of products, channels, and customers typically used in an ABC system. (There are many influencing cost drivers, like weather, that cause costing drivers.)
Next, there are resource cost drivers and activity cost drivers. The former are more easily determined, and are typically percentage splits (totaling 100%) of labor and others for non-wage expenses.
The latter is involves a technique. After the activity dictionary is created, the simple question is "What would make the amount of the activity cost for each activity significantly increase or decrease?" The answer should be "number of X."
So, for example in a hospital patient profitability, if the work activity is "perform patient blood tests" then the activity cost driver is "number of blood tests."
I have implemented ABC for 30+ years and written books and many articles on ABC.
  • asked a question related to Costs and Cost Analysis
Question
1 answer
What are the total costs incurred to the system and to the patient as out of pocket expenses, where insurance does not fund dental care, especially in case of cleft lip and palate?
Relevant answer
Answer
A small report on some aspects of pre-surgical cost was put out by the Dutchcleft group (see below) which might be of interest to you. Obviously the cost to different parties will vary greatly depending on what type of funding situation exists in the location the treatment is being conducted, so the generalizability of this is limited.
1. Konst EM, Prahl C, Weersink-Braks H, et al. Cost-effectiveness of infant orthopedic treatment regarding speech in patients with complete unilateral cleft lip and palate: a randomized three-center trial in the Netherlands (Dutchcleft). Cleft Palate Craniofac J. 2004;41(1):71–77. doi:10.1597/02-069.
  • asked a question related to Costs and Cost Analysis
Question
3 answers
I've been looking to identify the main economical cost analysis of architecture and interior design projects but the simple list of elements of a budget is not sufficient for the budgetary management of the project.
Relevant answer
Answer
Dears Biao and Pierre
Thank you for your comments. You are from my point of view both right and both incomplete in view of a full analysis of the costs of a project.
First, as you both mentioned there is a division on cost as expenditure of resources and of cost as an investment to create value to the owner or promoter.
In the approach of cost as expenditure a checklist of all costing items seem sufficient to a clear management control of the budgetary aspects but difference of coding in diferent counties/departaments eschew the real control of the decision making in the process masking bad planning for "panic last minute management" (yes I know these are not real trade terms)
In the approach of cost as investment it is difficult to preview how each element of the construction (land, technology, quality of materials, sustainability, energy efficiency, etc.) will amount to in the final construction specially when all the decisions are made on the basis of "either this or that" to a final figure already decided.
So, when a promoter asks for a architecture sudio to justify the value created by their approach to the project do these things come to your mind?
Dear Pierre I'm really sorry that you are right to say that the question is not precise because I really don't know how to "pick this bull by the horns"
regards
Luis
  • asked a question related to Costs and Cost Analysis
Question
5 answers
A programmatic approach to assessment is likely to be best practice, but it is expensive. I wonder is there any evidence?
Relevant answer
Answer
The true problem is using admission criteria and developing methods for evaluating spiritual-moral and affective maturity of students and the psychological skills necessary for being admitted. Medicine is not a bio-technology.
Moreover there is tendency to interpret Schools of Medicine like a business, not a mission, to date dominated by an obsolete deterministic, epistemological approach, overcame by Person Centered Medicine
We discuss this topic on August 30 in an International Workshop
You could participate.   www.unambro.it
Giuseppe R. Brera
  • asked a question related to Costs and Cost Analysis
Question
6 answers
My problem was to minimize cost function using non linear constraint for reliability system i.e. minimize cost for reliability system (Rs) with 9 components in series-parallel arrangements constitutes of 3 sub-systems(with 9 components mentioned above)
Sub-system reliability expression is:
Rss1 = R1*R2*R3, Rss2=R4*R5*R6, Rss3= R7*R8*R9, ..(i)
And one more success criterion is that system will work if 2 out of 3 subsystem will work. hence system reliability
(Rs) can be expressed as:
Rs= Rss1*Rss2*Rss3 + (1-Rss1)*Rss2*Rss3 + Rss1*(1-Rss2)
*Rss3 + Rss1*Rss2*(1-Rss3) ........(ii)
There is some target reliability say 'r' is given which
system must achieve and if system fail to do so using
above details, there are alternatives given for all 9
components with some high reliability (than current
ones) and costs are given as well. so our problem is to
achieve target reliability (i.e., Rs>= r) with minimum
cost.
If we do it using binary integer prog.. say binary
variable 'x' our obj. function becomes:
min C= c1*x1+........+c9*x9
which is linear, but our constraint i.e.,
RHS of eqn (ii) >= r
is non-linear.
Can you explain to us how to solve this using either binary prog, GA , or any other non-linear optimization problem (you can assume reliabilities value by your own ranging from 0 to 1)
Relevant answer
Answer
U can use any optimization tool and tune their parameters according to ur problem for getting the optimal cost. Else u may try to use the concept of reliability allocation firstly and then try to optimize the cost depending upon the cost parameters and their constraints.
  • asked a question related to Costs and Cost Analysis
Question
11 answers
Unlike the U.S., the European Union has been steady in its commitment to tackling the problem of greenhouse gas emissions. However, commitment at the macro-level has not necessarily trickled down to the micro level of individual EU member states. Indeed, in the final phase of the Kyoto Accord (2008 -2012), nine out of the 10 member states that submitted proposals for capping carbon emissions were found to be far too generous to their local industries. The UN-backed Emissions Trading Program offers another escape hatch from fulfilling lofty goals. Under the Program, businesses in wealthier nations can finance pollution reduction in poorer countries in lieu of reducing their own domestic greenhouse gas emissions. Not surprisingly, China has been the recipient of the bulk of these foreign clean-up deals. So, although greenhouse gas emissions will not necessarily be reduced in Europe under the Emissions Trading Program, greenhouse gas emissions could be lowered in China where so much of the world’s manufacturing takes place. Emissions Trading has become big business; there is even a stock exchange-like operation for trading in “the right to pollute” (buying and selling carbon units). Is this wrong?
What about emissions trading within a country; i.e., where Company A in Springfield, IL can lower its carbon emissions beneath its pollution allowance and so sells carbon units to Company B in Detroit, MI, which has exhausted its pollution allowance. Is that OK? Putting aside the plight of the people living near company B in Detroit, is it unethical for Company A to seek financial gain rather than letting those who live in the vicinity of its plant have cleaner air?
Relevant answer
Answer
Dear Gwendolyn.
If your question has not come with part of the answer, I'd say it was the best question I read in these five weeks that I am part of Reseachgate.
.
Congratulations for the question!
.
I would say that the whole mechanism of carbon trading is beyond immoral, is evil and worst of all, is an enormous discrimination over the third world. I would say it that there is even a racist component throughout the implementation of the same logic.
.
Apart from all the frauds that are made and are reported in the international press. The most vicious is that for a big transnational, keep the air conditioner running in their central offices, the areas of the third world should turn into "environmental conservation parks" to the delight "people well born".
.
If carbon trading mechanisms serve to keep industrial jobs of workers in developed countries, would still have some degree of justice. Meanwhile these jobs are transferred a reduction of social and environmental costs to third world countries giving these wages around 10% of the countries of origin. That is, while blocking the development of certain areas transfers to the generation of carbon, and much more serious pollutants for other countries.
.
The regulation of the carbon market is weak and lenient. Are eliminated natural biomes or withdraw populations who traditionally live in remote areas to monoculture reforestation. (there are several reported cases).
.
That is perhaps the carbon market, nor good intentions one can take.