Search results
Results from the WOW.Com Content Network
Marshall and Swift Cost Index, M&S (originally known as Marshall and Stevens Index): a composite of two major components - process-industry equipment average and all-industry equipment average - was established in 1926 with a value of 100. Some industries considered in the process-industry equipment average are chemicals, petroleum products ...
Cost - the value of currency required to obtain a product or service, to expend labor and use equipment and tools, or to operate a business. Cost index (or factor) - a value used to adjust the cost of from one time to another. There are various published cost indexes, listed by year, quarter, or month. RSMeans publishes a historical cost index.
Lang factor. The Lang Factor is an estimated ratio of the total cost of creating a process within a plant, to the cost of all major technical components. It is widely used in industrial engineering to calculate the capital and operating costs of a plant. [1] [2] [3] The factors were introduced by H. J. Lang and Dr Micheal Bird in Chemical ...
The current replacement value is defined as what monetary value the organization places on the facility. An accurate FCI is dependent on the cost estimates developed for the facility deficiencies and current replacement value. [citation needed] The FCI is a relative indicator of condition, and should be tracked over time to maximize its benefit.
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate.
A cost database includes the electronic equivalent of a cost book, or cost reference book, a tool used by estimators for many years. Cost books may be internal records at a particular company or agency, [1] or they may be commercially published books on the open market. AEC teams and federal agencies can and often do collect internally sourced ...
Equipment costs can range from $500 for small items to $500,000 for construction or manufacturing equipment. The cost of an equipment loan depends heavily on the equipment being purchased, the ...
Overall equipment effectiveness. Overall equipment effectiveness [1] ( OEE) is a measure of how well a manufacturing operation is utilized (facilities, time and material) compared to its full potential, during the periods when it is scheduled to run. It identifies the percentage of manufacturing time that is truly productive.