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In chemical plants, engineers have to be very budget-conscious, and one of the tools they can use is the Plant Cost Index.
database of many achievements
The Plant Cost Index is data on actual manufacturing and construction in various regions.
Since it is statistical information, it is highly reliable.
There is also data for each facility and construction data.
Since the data is accumulated every year, engineers will want to check the information regularly.
reference data
One thing you must not misunderstand about the Plant Cost Index is that it is merely statistical data.
There is no guarantee that the characteristics of your own plant match the Plant Cost Index.
I think there is some discrepancy between the Plant Cost Index and the batch plant I am in charge of.
It is important to accumulate data about your own plant.
You can choose whether to trust the accumulated data or the data in the Plant Cost Index.
If you have not recently purchased equipment, you can also use the Plant Cost Index to supplement the difference with the accumulated data.
Feasibility study
The plant cost index is useful in feasibility studies.
It’s not a problem if you have a huge amount of actual data, but if you’re trying to make a simple estimate for a plant with less than that amount, statistical data like the plant cost index is extremely important.
It will also be important for setting budgets to look ahead to things like long-term plant maintenance plans.