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No innovative process is complete until the “idea” is implemented successfully on a commercial scale at the design production capacity. Prior to commercialization—based on the flowsheet and its technical evaluation—a detailed capital and operating costs should be completed to establish the financial viability of the proposed process. Assuming that the internal rate of return (IRR) based on the company’s business model is acceptable, the project—from basic engineering to commissioning and start-up—is executed with the assistance of a major, renowned engineering company. Owner’s responsibility includes: (a) staffing and training of operating and maintenance personnel, (b) monitoring the ramp-up of the plant to its full production capacity in a timely manner. In conclusion, two examples of innovative ideas taken to successful commercial operation are outlined.
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Zurück zum Zitat Gerrad, A. M. (2000). Guide to capital cost estimating (4th ed., p. 115). Warwickshire, UK: Institute of Chemical Engineers. Gerrad, A. M. (2000). Guide to capital cost estimating (4th ed., p. 115). Warwickshire, UK: Institute of Chemical Engineers.
- Process Development, Execution, Owner’s Responsibility, and Examples of Innovative Developments
- verfasst von
V. I. Lakshmanan