Title :
Economic justification of process improvement and automation projects
Author_Institution :
ABB Ind. Syst. Inc., Duluth, GA, USA
Abstract :
Economic justification is the burden of proof for the necessity of process improvement and automation projects. Process improvement and automation projects are undertaken to achieve business objectives. The prospective project´s financial return versus the hurdle rate, and its various forms, is the primary information required to make business decisions. This paper describes the steps required to determine the financial return for a prospective project while taking into account life cycle costs
Keywords :
commerce; costing; economics; investment; process control; project engineering; business decisions; business objectives; economic justification; financial return; hurdle rate; life cycle costs; process automation projects; process improvement projects; Automation; Capacity planning; Companies; Costs; Environmental economics; Environmental factors; Investments; Production; Profitability; Vehicles;
Conference_Titel :
Textile, Fiber, and Film Industry Technical Conference, 1997., IEEE 1997 Annual
Conference_Location :
Greenville, SC
Print_ISBN :
0-7803-4090-6
DOI :
10.1109/TEXCON.1997.598535
