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
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.
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.
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.
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.
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.
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?
Ph. D. Scholar,
Ahmedabad University, Gujarat, India.
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.
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.
 Bejan A, Tsatsaronis G, Moran M. Thermal design and optimization. New York, Wiley, 1996.
 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.
 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?
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?
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
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.
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.
1. Cost of quality (COQ), quality related cost,
2. Lifecycle cost (LCC)
3. Total ownership cost (TOC)
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.
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.
The scientific validity of the manufacturing business survey?
Conversion of data information to be obtained from the qualitative study?
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?
what parameters can be considered that helps in designing cost function in VANETs for finding always best connected network ?
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).
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?
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.
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?
- 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
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?
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.
A programmatic approach to assessment is likely to be best practice, but it is expensive. I wonder is there any evidence?
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
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
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)
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?