Estimating Economic Incentives for Computer Control Systems: An Applications Approach

Estimating Economic Incentives for Computer Control Systems: An Applications Approach

Petroleum

Fuel economy

Process control

Fractionation

Chemical industry

Control systems

Power generation economics

Application software

Economic forecasting

Economic indicators

Practical guides are discussed as to why a how computer control results in tangible economic benefits, what to look for in a candidate, and how to evaluate the benefits. Several examples are presented. The examples are drawn from varied processes such as sulfur plants, fractionators, ammonia plants, and cryogenic demethanizers. Several techniques and rules are identified for general use in justifying the economic consequences of using computer control. A key criterion for economic justification is shown to be that a nonlinear relationship needs to exist between the key controlled parameter and the performance parameter. Key indicators are presented which are useful in identifying economically attractive candidates for computer control.

394-398

IA-15

IEEE Transactions on Industry Applications

1979

G. L. Funk

D. E. Smith

journalArticle

1939-9367

10.1109/TIA.1979.4503678