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Equipment Rating & Economic Evaluation. Course outline Equipment rating Economic evaluation of a...

Date post: 08-Jan-2018
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Equipment rating  Design mode vs. rating mode

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Equipment Rating & Economic Evaluation Course outline Equipment rating Economic evaluation of a flowsheet Engineering economic review Cost factors Generating Economic Reports Strategies for increasing profits Equipment rating Design mode vs. rating mode Equipment sizing vs. rating Sizing- calculate the dimensions of an equipment for a fixed operating condition Rating- calculate the percentage of use of an equipment with fixed dimensions Default setting in SPD: Design Mode (sizing) when equipment dimensions are not specified, e.g. reactor volume, filter area, etc. In Design Mode, a max available size for the equipment is specified. If the calculated equipment size > max allowable size, SPD will employ multiple pieces of equipment (with each equipment size < max allowable size.) Filter (PFF-1) sizing Right click your PFF, choose Equipment Data to check on the calculated filter area Remember that: Flux =Vol/(Area x time) Data needed: Flux & time (revisit by right click PFF Operation Data/ FILTER-1 Feed volume determined by SPD from P-1 (reactor) Hence, SPD calculates filter area Design mode Calculated filter area = 1.5 m 2 Max available size = 80 m 2 Rating If Rating Mode is selected, the size & number of the units can be specified SPD takes this info to calculate the output of simulation, e.g. M&E balances, process time, etc. Task: switch the PFF sizing method to Rating Mode ( right click PFF/ Equipment Data) & do the following changes: Filter size = 2 m 2 (1unit) Filter flux = 150 L/m 2 hr (revisit by right click PFF Operation Data/ FILTER-1, Duration, Filtration Time) Save your tutorial as different file name Working session Determine the filtration time when PFF os switched to Rating Mode Economic evaluation Stream classification Economic evaluation features Stream classification We need to classify all input and output streams as raw materials, revenues or wastes (solid, liquid or gaseous) & supply their cost data before we perform the throughput analysis, plant economic evaluation & environmental impact assessment calculations. By default, SPD estimates a purchase or selling price for a stream based on the price of each component and the composition of the stream. Stream classification Output streams: Classification: C = Revenue Emission = Emission B + Heptane & Wash out = Aqueous Waste Cost: Emission aqueous waste disposal cost = $0.10/kg (click Set by user first) Revenue stream (automatically calculated based on stream composition) Pre-inserted cost data Main Product Rate: Stream C Reported based on single component C Path: Tasks/Stream Classification Engineering economic review Cost broken down into: Capital cost Equipment cost Building costs Operating cost Utilities Labor Raw material Index of economic performance Return on Investment (ROI) Annual Income/ Capital costs *100% Usually aim for 30% Internal Rate of Return (IRR) Discounted Cash Flow Payback Period/Time Amount of time to repay automatically Usually aim for 7 years or less Net Present Value (PVV) Value of project in current year currency Cost factors (operation level) For each unit procedure you can set cost data for each operation under Labor, etc. tab Path: Right click an equipment procedure/ Operation Data/(any operation) Create new labors Can only be change in Databanks/Heat Transfer Agents Cost factors (equipment level) Path: Right click an equipment procedure/ Equipment Data/ (any operation) Purchase Costs Automatically calculated Set by user Adjustments Change material of construction Change opening and maintenance costs Cost factors (section level) Section- segment or a group of equipment Capital cost adjustments (piping, instrumentation) Operation cost adjustments (labour, facilities, QA) Cost factors (flowsheet level) Path: Edit/ Flowsheet Options/ Economic Evaluation Parameters Right click on Flowsheet Economic Evaluation Parameters Cater for Overall Financing Time Valuation Income taxes Economic evaluation Pre-simulation check: All streams are classified, especially the main revenue stream Filter setting: Rating Mode Area = 2.0 m 2 Flux = 150 L/m 2 h Set under Recipe Scheduling Information Number of batches Cycle time = 12hours Economic evaluation steps Solve M&E balances Task/ Perform Economic Calculations Results: View/ Executive Summary Reports/ Economic Evaluation Reports/ Cash Flow Analysis Report/ Itemized Cost Report Strategies to increase profits Increase number of batches Try larger batches, e.g. maybe 100? Let SPD calculate the maximum batches Debottleneck Size debottleneck i.e equipment capacity Time debottleneck i.e higher equipment use Capital costs will rise with equipment sizes Operation costs can be optimised with better labor and facility usage


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