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economic artical analysis
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4.1 Introduction
The main objective of this thesis was development of a framework for decision support tool, CAST (Condition Assessment Selection Tool). Once the data was collected on condition assessment technologies a means of comparing them was needed. Several different formats and programs were considered including MS Access, MS Excel and MS Visio method. After careful review of all methods, MS Excel based method was selected because of the following features:
Wide usage is possible due to universal acceptance and availability of MS Excel
The revision and addition of new technologies is much easier
It doesn’t require any special training
Both MS Excel and MS Access based tools have the capability of comparing the technologies and storing the data within themselves. Excel was chosen over Access because of the ease at which the new information can be input allowing the databases to be expanded as new technologies are added. This along with the ability to copy formulas used to compare the multiple technologies in the database to produce the graphs as part of the results was deemed a perfect fit for developing the CAST.
4.2 Assumptions
In order to develop CAST, there is a basic assumption that has to be made, which is as follows:
4.2.1 Identification of assets to be inspected
It is assumed that the step 5 of the 10 step condition assessment program as discussed in section 1.3 has already been completed before using the tool. The use of CAST requires the users to have basic information about the pipelines assets and surrounding parameters they need to inspect. The basic information about the assets and surrounding characteristics that are required by the users of CAST are explained in section 4.4.
4.3 Framework
As me...
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...ment technologies on the X-axis; the Y-axis illustrates the percentage values the bars are colored in accordance to the DRI value of the technologies. The legend on the right side illustrates the color coding for the bars.
Figure 31: Usability Index
Figure 32: Detectability Index
Figure 33: Total Performance Index
4.4.8 Economical Indices
The economical indices of various technologies are displayed in this worksheet in form of graphs. Figure 34 and Figure 35 illustrates the tangible cost index and intangible cost index respectively. The tangible cost index gives the $/ft value of implementing a condition assessment technology. The intangible cost index gives a comparative value of combined impacts on user and traffic due to implementation of a condition assessment technology.
Figure 34: Tangible Cost Index
Figure 35: Intangible Cost Index
...eting tool that show the differences between the present value of revenues and the present value of expenses. The project can be profitable when the net present value is positive. In other words, the present value of revenues is greater than the present value of expenses. Profitability index is another tool for evaluating investment projects, which is the ratio of the PV of benefits on the PV of costs. A project can be beneficial if the profitability index is greater than 1. Also, it has the same idea as NPV that In other words, the present value of benefits is greater than the present value of costs. However, these two methods (NPV and Profitability Index) have been used to evaluate the proposal of implementing EHR.
M2 Construction is well known for maintaining the highest standards in regarding of Quality Performance. In order to achieve a completed project that meets the owner 's quality expectations, we require that all parties to a project must acquire an understanding of those expectations, incorporate them into the contract price, and commit in good faith to carry them out.
Smith, W., & Jewett, D. (2009). Tableau software and teradata database the visual approach to the active data warehouse. In Retrieved from http://www.tableausoftware.com/learn/whitepapers
One thing to remember when using any decision-making tool is to keep the end in mind. In other words when working through a process, visualizing the end result is Helpful. We must also remember that in every decision-making process there are a multitude of tools to help us along the way. No tool is really better then another, in fact most are made to compliment each other not as a soul solution to the process at hand.
The Standards, their concentrations and their absorbance are listed in the table below the graph. The x-axis is the concentration of the Bovine Serum Albumin, while the y-axis is the absorbance reading that was received when the spectrometer was set to 595nm.
"Office of Technology Assessment." Reports. U.S. Corprate Office of Technological Assesment, 01 Jan. 2014. Web. 05 May 2014.
This database will serve a diverse range users, each with different needs. Prior to constructing this database, I created a list of questions that I suspected may have been of interest to a given stakeholder, and then ensured that my database could answer them. I have listed a sample of these questions in Appendix I and have provided relevant queries to demonstrate the usefulness of the database.
When you look at the history of General Motors, you will find a long, rich heritage. General Motors came into existence in 1908 when it was founded by William "Billy" Durant. At that time Buick Motor Company was a member of GM. over the years GM would acquire more than 20 companies, to include Opel, Chevrolet, Cadillac, Pontiac, and Oldsmobile. By the 1960's through 1979 was known as a revolution period for General Motors. Everyone was focusing on environmental concerns, increased prices of gasoline lead to the unprecedented downsizing of vehicles. The smaller cars lead to one the largest re-engineering program ever taken in the industry. By 1973, General Motors was the first to offer an air bag in a production car.
The third step named post-commissioning step deals with the impacts and affects of the new technology which contains evaluating existing conditions and measuring the performances of the firms. (Udo and Ehie, 1996) (Primrose, 1991).
In order to make useful, there are some characteristics such as being practical and dependable. As a dependable for it must be acurate, unbiased and verifiable and practically accounting information must be compareable, prepared in a time frame, user friendly, consistent and able to differentiate.
The signature, certificate number, and kind of certificate held by the person approving the work
Trade-studies are used to figure out the best possible approach. Trade studies functions includes improving a particular aspect of the system design to figure out the best approach to be used given a well-defined set of technical choices and parameters [1]. The inputs of the trade study are the DDP of competing technical solutions or just one widely variable solution. These inputs can consist of models of those technical solutions, the stakeholder’s priority ranked operational requirements, system life-cycle considerations, and other data. The output of a trade-study is a decision on which technical route to follow based on the desired characteristics of the system within the alternatives being studied. The trade-study will also document the justification of the decision. The goal of this section is to explain the process that provides the trade study its justifying power, a little more detail on those inputs and outputs, when and how many trade studies are conducted, what the sensitivity analyses are, and how alternatives are analyzed are related to trade-studies.
When applying the Maintenance management approach it is vital for the plant assets to be prioritized. The assets are prioritized according to the probability/risk number (RPN). The assets found to have a high PRN number will be analyzed first. If the number of resources available outweighs the assets at risk, management should mitigate risk by determining where the available resources can be applied first. Thus, the organization’s risk management process, should have a well-established risk assessment structure, which contains a mitigation plan and implementation
Condition assessments and performance assessments are interconnected, as shown in Figure XYZ. This is due to the fact that the decline of the condition of an infrastructure can result in the failure of the performance or serviceability. Preferably, condition assessments and performance assessments are collected multiple times throughout a number of years from the same section of the asset. The information attained from the condition assessment and the performance assessments can be used to make predictions of the future condition and performance of the assets. The information from these assessments is typically only valuable for a “mature” asset management system which has been in position for a significant amount of time. Due to cost and time restraints these assessments are typically not realistic for an organization to continually collect and assess data. When examining newer assets it may be beneficial to examine similar assets that have been constructed at years prior to predict the future performance and condition of the asset.
Step 6, evaluation and selection of a supplier: the evaluation stage of the process could involve the p...