By Paul G. Friedmann
Protecting the industrial elements of automation and strategy regulate, this newly revised second version expands on how the instruments of monetary and fiscal research will be utilized to automation tasks, particularly these excited about non-stop techniques. New sections were additional to increase program of financial and fiscal research to regulate of discontinuous techniques, together with batch and discrete components production. a brand new thesaurus has additionally been further to assist outline fiscal phrases.
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Extra resources for Automation and control systems economics
Matrin, G. ; Turpin, L. ; and Cline, R. , 1991. “Estimating control function benefits,” Hydrocarbon Processing, 70, 6, pp. 68-73. 4. Murrill, P. , 1999. Fundamentals of Process Control Theory, 3rd ed. Research Triangle Park, NC: ISA. , 2004. Notes for ISA Course MT10, Planning, Justifying and Executing Automation + Control Projects. 5. Exercises 4-1. In Example 4-2, is the maximum temperature limit hard or soft? 4-2. A shell-and-tube heat exchanger is used to heat a liquid. It is desirable to heat the liquid as much as possible, but liquid temperature must be kept under 120°C.
This rate is considerably higher than the cost of capital, which is available at 10%. List some possible reasons for this behavior. 6-5. Payback, ROI, NP and IRR for the cash flows shown in Fig. 6-1 were calculated in Examples 6-2 and 6-3. Which of these profitability measures would be affected if the project started earning immediately instead of one year after initial expenditures? 6-6. Two projects, A and B, are proposed for the same unit. Each project consists of installation of a PLC to control a different part of the unit.
C. Know how to use each method to evaluate and rank proposed projects. 6-1. Is It Worth Doing? Many more projects are proposed than are approved. How can the proposals that are most profitable to the organization be selected? Each proposal must be evaluated and, if resources are limited, compared against other proposals. , three-year payback, or positive net present value at 10% discount rate). If the organization has unlimited resources, a favorable evaluation is sufficient for project approval.