Patent ID: 8452626

Claim:
A computer-implemented method of estimating a replacement cost associated with an existing technology, the method comprising: obtaining a plurality of costs associated with implementing the existing technology, wherein the plurality of costs include an exergy cost and a utility cost associated with implementing the existing technology; identifying a length of time that the existing technology is predicted to have remaining to perform useful work; calculating, by a processor, a total useful work that the existing technology is predicted to have remaining in the identified length of time as a product of the identified length of time, the useful work produced by the existing technology over a predetermined period of time, and a first weighting coefficient that is selected as a function of operation policy, wherein the operation policy includes a measure of functional criticality of the existing technology; and calculating, by the processor, an existing net benefit of continuing implementation of the existing technology based upon the obtained plurality of costs and the calculated total useful work that the existing technology is predicted to have remaining, wherein calculating the existing net benefit comprises: calculating the existing net benefit as a function of the calculated total useful work and a cost of operation of the existing technology, wherein the cost of operation of the existing technology is a product of the identified length of time, a direct operational cost of the existing technology, and a second weighting coefficient for cost that is selected as a function of operation policy; and displaying, by the processor, the calculated existing net benefit and a recommendation indicating whether to replace the existing technology.