The prediction, quantification and evaluation of advanced process control benefits
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Date
2016-07-15
Authors
Bawden, Neil Martin
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Abstract
It has been suggested that the inability to quantify the financial benefits of advanced
process control is a. key barrier to hs more widespread use and acceptance. This
report discusses the financial analysis of advanced process control opportunities. Potential
benefits of advanced control are predicted by considering the power spectral
density of load disturbances likely to affect the control system, and the ideal characteristlcs
of feedback systems as proposed by H.W. Bode. Financial ratio analysis
and modem measures of profitabilty, such as Discounted Cash Flow Rate of Return
(DCFRR) and Net Present Value (NPV) are used to evaluate the economic potential
of control opportunities fer an organisation. The results indicate that financial
benefits of advanced process control strategies can be predicted, quantified and then
evaluated, with the ultimate aim of improving the overall financial position of all
organisation.
Description
A project report submitted to the Faculty of Engineering, University of the
Witwatersrand, Johannesburg in partial fulfillment of the requirements
for the degree of Master of Science in Engineering.
Johannesburg 1992