Chemical plant cost indexes | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-05-03

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Chemical_plant_cost_indexes


00:01:13 1 Calculations methods
00:02:17 2 Using a cost index
00:03:39 3 Cost indexes in engineering
00:07:28 4 Cost Indexes for different locations
00:09:30 5 Location Factor



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SUMMARY
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Chemical plant cost indexes are dimensionless numbers employed to updating capital cost required to erect a chemical plant from a past date to a later time, following changes in the value of money due to inflation and deflation.  Since, at any given time, the number of chemical plants is insufficient to use in a preliminary or predesign estimate, cost indexes are handy for a series of management purposes, like long-range planning, budgeting and escalating or de-escalating contract costs.A cost index is the ratio of the actual price in a time period compared to that in a selected base period (a defined point in time or the average price in a certain year), multiplied by 100.  Raw materials, products and energy prices, labor and construction costs change at different rates, and plant construction cost indexes are actually a composite, able to compare generic chemical plants capital costs.