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economic artical analysis
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4.1 Introduction
The main objective of this thesis was development of a framework for decision support tool, CAST (Condition Assessment Selection Tool). Once the data was collected on condition assessment technologies a means of comparing them was needed. Several different formats and programs were considered including MS Access, MS Excel and MS Visio method. After careful review of all methods, MS Excel based method was selected because of the following features:
Wide usage is possible due to universal acceptance and availability of MS Excel
The revision and addition of new technologies is much easier
It doesn’t require any special training
Both MS Excel and MS Access based tools have the capability of comparing the technologies and storing the data within themselves. Excel was chosen over Access because of the ease at which the new information can be input allowing the databases to be expanded as new technologies are added. This along with the ability to copy formulas used to compare the multiple technologies in the database to produce the graphs as part of the results was deemed a perfect fit for developing the CAST.
4.2 Assumptions
In order to develop CAST, there is a basic assumption that has to be made, which is as follows:
4.2.1 Identification of assets to be inspected
It is assumed that the step 5 of the 10 step condition assessment program as discussed in section 1.3 has already been completed before using the tool. The use of CAST requires the users to have basic information about the pipelines assets and surrounding parameters they need to inspect. The basic information about the assets and surrounding characteristics that are required by the users of CAST are explained in section 4.4.
4.3 Framework
As me...
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...ment technologies on the X-axis; the Y-axis illustrates the percentage values the bars are colored in accordance to the DRI value of the technologies. The legend on the right side illustrates the color coding for the bars.
Figure 31: Usability Index
Figure 32: Detectability Index
Figure 33: Total Performance Index
4.4.8 Economical Indices
The economical indices of various technologies are displayed in this worksheet in form of graphs. Figure 34 and Figure 35 illustrates the tangible cost index and intangible cost index respectively. The tangible cost index gives the $/ft value of implementing a condition assessment technology. The intangible cost index gives a comparative value of combined impacts on user and traffic due to implementation of a condition assessment technology.
Figure 34: Tangible Cost Index
Figure 35: Intangible Cost Index
...eting tool that show the differences between the present value of revenues and the present value of expenses. The project can be profitable when the net present value is positive. In other words, the present value of revenues is greater than the present value of expenses. Profitability index is another tool for evaluating investment projects, which is the ratio of the PV of benefits on the PV of costs. A project can be beneficial if the profitability index is greater than 1. Also, it has the same idea as NPV that In other words, the present value of benefits is greater than the present value of costs. However, these two methods (NPV and Profitability Index) have been used to evaluate the proposal of implementing EHR.
John Deere Component Works (JDCW), subdivision of John Deere and Co. was in charged specifically of the manufacturing of tractor component parts. The demand for JDCW’s products had problems due to the collapse of farmland value and commodity prices. Numerous and constant failures in JDCW’s competition for bids, alerted top management to start questioning their current costing methods. As an outcome, the analysis has to be guided to research on the current costing methods with the intention of establishing legitimacy and to help the company in adopting a more appropriate costing system.
Smith, W., & Jewett, D. (2009). Tableau software and teradata database the visual approach to the active data warehouse. In Retrieved from http://www.tableausoftware.com/learn/whitepapers
The Standards, their concentrations and their absorbance are listed in the table below the graph. The x-axis is the concentration of the Bovine Serum Albumin, while the y-axis is the absorbance reading that was received when the spectrometer was set to 595nm.
"Office of Technology Assessment." Reports. U.S. Corprate Office of Technological Assesment, 01 Jan. 2014. Web. 05 May 2014.
This database will serve a diverse range users, each with different needs. Prior to constructing this database, I created a list of questions that I suspected may have been of interest to a given stakeholder, and then ensured that my database could answer them. I have listed a sample of these questions in Appendix I and have provided relevant queries to demonstrate the usefulness of the database.
One thing to remember when using any decision-making tool is to keep the end in mind. In other words when working through a process, visualizing the end result is Helpful. We must also remember that in every decision-making process there are a multitude of tools to help us along the way. No tool is really better then another, in fact most are made to compliment each other not as a soul solution to the process at hand.
Testing must be performed on a pre-established schedule and will be executed under supervision of the qualified individual to validate the sampling; besides, must be implemented by third party testing services, and the Instruments used for analysis should be calibrated in accordance with established procedures.
The third step named post-commissioning step deals with the impacts and affects of the new technology which contains evaluating existing conditions and measuring the performances of the firms. (Udo and Ehie, 1996) (Primrose, 1991).
When you look at the history of General Motors, you will find a long, rich heritage. General Motors came into existence in 1908 when it was founded by William "Billy" Durant. At that time Buick Motor Company was a member of GM. over the years GM would acquire more than 20 companies, to include Opel, Chevrolet, Cadillac, Pontiac, and Oldsmobile. By the 1960's through 1979 was known as a revolution period for General Motors. Everyone was focusing on environmental concerns, increased prices of gasoline lead to the unprecedented downsizing of vehicles. The smaller cars lead to one the largest re-engineering program ever taken in the industry. By 1973, General Motors was the first to offer an air bag in a production car.
In order to make useful, there are some characteristics such as being practical and dependable. As a dependable for it must be acurate, unbiased and verifiable and practically accounting information must be compareable, prepared in a time frame, user friendly, consistent and able to differentiate.
This helps a lot during the trouble shooting and future maintenance planning activities and to take a decision based on previous indicators.
Interactions between quality and production can be interpreted from maintenance point of view. The primary output of production is the desired product and its secondary output is demand for maintenance, which result in an input for the maintenance function (Ben‐Daya & Duffuaa, 1995) Thus, the implementation of a strong maintenance program within an organization is desirable in order to provide reliable equipment maintenance and reduce equipment process variation. (Cua, et al., 2001) Maintenance major role is to maintaining the quality of the elements involved in production instead of reacting from one repair to another. A good maintenance program has a positive effect on production by increasing production capacity and controlling the quality and quantity of output. When outlining the link between quality and maintenance, is also necessary to indicate that product quality, production cost, machine condition and its life cycle are not just influenced by the type of production machinery and maintenance policy, but also by the quality of the input of elements (such as raw material, production tools, methods and procedures, operating and maintenance staff competence and operating conditions) in the production process (Maletic, et al., 2012)
Performance assessments can occur at a variety of stages in the lifecycle of an infrastructure. Depending on the stage there are key questions and decision processes that take place. The performance assessment process is notably important during the decision making, planning and implementation phases. During these phases, performance assessment provides the opportunity for the objectives and vision of the asset to be taken into account. Performance assessments can also be an effective method of testing whether or not the maintenance of an asset has been successful (as shown in Figure XYZ).
Step 6, evaluation and selection of a supplier: the evaluation stage of the process could involve the p...