Equipment Cost Estimating

Abstract

As indicated in Chapter 1, one of the basic economic skills that chemical engineers often need is the ability to make cost estimates. The foundation of most estimates is the cost of individual pieces of equipment, and developing that estimating skill is the purpose of this chapter. All chemical engineers should know how to do this, as it is fundamental to considering costs and economics for engineering decisions and recommendations, as well as being “practical” and “cost conscience” in one’s work. On a direct use basis, equipment cost estimates are frequently required in many types of work, and are the first step in more detailed plant cost estimates.