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Failure rates are often expressed in engineering notation as failures per million, or 10 −6, especially for individual components, since their failure rates are often very low. The Failures In Time (FIT) rate of a device is the number of failures that can be expected in one billion (10 9) device-hours of operation. [14] (E.g. 1000 devices for ...
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate.
Fastest possible cycle time is 1.5 seconds, hence only 21,600 seconds would have been needed to produce the 14,400 parts. The remaining 7,200 seconds or 2 hours were lost. The OEE is now the 21,600 seconds divided by 28,800 seconds (same as minimal 1.5 seconds per part divided by 2 actual seconds per part), or 75%.
The Lang Factor is an estimated ratio of the total cost of creating a process within a plant, to the cost of all major technical components. It is widely used in industrial engineering to calculate the capital and operating costs of a plant. [1][2][3] The factors were introduced by H. J. Lang and Dr Micheal Bird in Chemical Engineering magazine ...
The levelized cost of electricity (LCOE) is a metric that attempts to compare the costs of different methods of electricity generation consistently. Though LCOE is often presented as the minimum constant price at which electricity must be sold to break even over the lifetime of the project, such a cost analysis requires assumptions about the value of various non-financial costs (environmental ...
Common activity bases used in the calculation include direct labor costs, direct labor hours, or machine hours. This is related to an activity rate which is a similar calculation used in Activity-based costing. A pre-determined overhead rate is normally the term when using a single, plant-wide base to calculate and apply overhead.
The energy efficiency ratio (EER) of a particular cooling device is the ratio of output cooling energy (in BTUs) to input electrical energy (in watt-hours) at a given operating point. EER is generally calculated using a 95 °F (35 °C) outside temperature and an inside (actually return-air) temperature of 80 °F (27 °C) and 50% relative humidity.
Equivalent annual cost. In finance, the equivalent annual cost (EAC) is the cost per year of owning and operating an asset over its entire lifespan. It is calculated by dividing the negative NPV of a project by the "present value of annuity factor": where r is the annual interest rate and. t is the number of years.