Economic & Technical Evaluations in Engineering & Maintenance

Code

MA-362

City

DUBAI

Hotel

Hotel Meeting Room

Price

3450 $

Start

2025-10-12

End

2025-10-16

Inquiry

Send to Friend

Re-Connect

Tailored Courses

Download Brochour

Place of the session

Other Dates

A tailored course application form

Name

Employer Name

Country

City

Mobile Number

Work Phone Number

E-mail

Message

Inquiry form

Full name

Employer Name

Country

City

Mobile Number

Work Phone Number

E-mail

Message

Application Form

Full Name

Company

Country

City

Mobile Number

Work Phone Number

E-mail

Payment Method

Invoice Recipient Information

Full Name

Work Phone Number

Mobile Number

Work Address Details

E-mail

Provide us with your details and the team will contact you

Send to a friend

Please fill in all the fields below and a link will be sent to your e-mail when you click it. You will be redirected to the download page

Full Name

Mobile Number

E-mail

Please fill in all the fields below and a link will be sent to your email when it is clicked

Full Name

Mobile Number

E-mail

Pathways Training and consulting adopts the newest techniques of human resources Training and consulting and, with the following:

Theoretical lectures are delivered via PowerPoint and visual displays (videos and short films)
Making scientific evaluation to the trainee (before and after)
Brainstorming and role-playing
Using case studies related to the scientific material being delivered and the trainees' work.
The participants get the scientific and practical material printed and on CDs and Flash memories.
Preparing records and reports of the participants' attendance and results, with a general evaluation of the training program.
A group of the best trainers and experts in all fields and specialties professionally prepares the scientific material.
After finishing the course, the participants get certificates of attendance signed, certified, and issued by pathways Training and consulting.
Our training programs start at 9:00 o'clock in the morning and end at 2:00 in the afternoon, with snack buffet during the lectures.
Providing a lunch buffet during the training program period, with organizing a lunch party on the training program final day for taking some photos and certificate awarding.

Introduction

Engineering and maintenance projects call for complex engineering and business tradeoffs with due regard to compliance with regulatory and code requirements. A sound understanding of the key aspects of project objectives, drivers, constraints, and profitability is crucial for the success of a project. Fast-track schedules demand faster, more accurate technical and economic decisions earlier in the design process, when engineers and business managers least understands project costs. Consequently, many process facilities cost more than they should.

Using the appropriate evaluation techniques and skills, engineering and economic decisions can be reached faster, more accurately, and with greater confidence, avoiding costly project delays and potential rework.

In cases where there is competition for resources between several technically viable projects, cost and schedule factors play a key role in ranking the projects based on their profitability. Similarly, costs and schedules have a major impact on the selection of the most cost effective maintenance option from among several alternatives such as repair/replace or long/short term repairs.

The course covers the basics of project development and management. It begins with Project initiation and development phases and progresses through the project execution and control phase. It highlights the cost considerations and the degree of influence on costs in each phase.

Technical viability of a project, whether it involves new facilities or a repair method, must be ensured before the economic evaluation starts. The course presents the technical fundamentals and provides guidelines and procedures for conducting technical evaluations.

The time value of money and life cycle cost concepts are essential aspects of economic evaluations. These topics will be covered in detail with the use of a number of worked examples.

The course will comprise lectures and workshops that incorporate a number of short exercises to reinforce the key techniques discussed to maximize your benefits. Additionally, an optional “Question and Answer” period will provide you with opportunities to get expert answers on your specific questions.

Objectives

To provide you with:

A fundamental understanding of financial and accounting principles, terms, techniques, and best practices,
The tools you need to perform financial evaluations and justify your own project to corporate management, and
A fundamental understanding of the technical aspects that should be considered in technical evaluations of projects to ensure their technical viability, mechanical integrity and compliance with applicable regulations, codes, and standards.

Training Methodology

The course combines presentations and discussions of topics covered with relevant examples.
It combines sound engineering and economic principles, methods, and best industry practices and enforces the learning’s with Case Studies and Question & Answer workshops to maximize the benefits to the participants. Participants will work in groups to perform practical technical and economic evaluations.
Participants will be provided with comprehensive course notes and copies of presentation material that will be very valuable for detailed study and future reference.

Organizational Impact

The company will be able to implement fit-for-purpose projects solutions that are both technically sound and cost-effective.
Technical and financial resources can be allocated to projects based on their ranking and cost effectiveness.
Heightened business focus among staff will result in operational and financial performance improvement

Personal Impact

Participants will enhance their understanding of the time value of money and life cycle cost principles.
Participants will learn how to perform key project analyses including technical, economic, and environmental evaluations.
Participants will add to their ability to evaluate the economic and technical impacts of alternative maintenance strategies and methods on maintenance projects and to select the optimum alternative for the specific application while complying with regulatory requirements.
Participants will gain a working knowledge of the various cost estimating methods and how to prepare timely cost estimates that are fit for purpose.
Participants will broaden their technical knowledge base and understand the economic impact of their technical decisions leading to increased contributions in project profitability, technical integrity and reduced downtime.
Participants will enhance their competence and productivity thereby improving their performance level and making additional value added contributions to their organizations.

Who Should Attend?

The course is pitched to appeal to professionals with a large range of technical and industrial backgrounds and varying levels of experience seeking to broaden their skills and abilities in economic and technical valuation techniques required across industry.

Design, project, maintenance, and plant engineers, supervisors and professionals in the manufacturing, chemical processing, petrochemical, power, food, and other process industries. New graduates will benefit within the short period of two days from the extensive practical experience of the instructor.

Seminar outline

Project Initiation and Development

Overview
- Definitions of terms used in project development, analysis, and management
- Project types and sizes –
  - Capital projects – Evergreen, expansions/additions, revamps
  - Maintenance projects – Shutdowns; repairs; alterations; replacements and improvements
- Project definition, scope and drivers
  - Project mission and drivers
  - Phase 1: Concept generation – potential ways of achieving project mission
  - Phase 2: Project definition - one option is selected and developed
  - Phase 3: Project implementation – continues through construction to the hand-over of the completed project
- Project Management Process
  - Project Planning
  - Project Scheduling
  - Feasibility study - Is the project feasible? How feasible are the alternatives under consideration; feasibility report
  - Cost, timing, performance, effect of organization
- Key issues in project analysis

Models of Project Development
- Project evolution and life cycle
- Basic seven phases of a project
- Common three main phases of a project
  - Front End Loading -FEL (or Front End Definition - FEED) which includes development of the entire detailed plan and project approvals
  - Execution Phase - Detailed engineering; procurement, construction
  - Commissioning, Handover and Start-up phase
- Project definition
  - Design Basis Document (DBD) – Development guidelines
  - Implementation strategy – owner involvement
  - Procurement policies, procedures and practices
  - Spare parts policies, procedures and practices
  - Detailed (definitive) cost estimate
- Project development
  - Project Development Plan (PDP) – Preparation Guidelines
  - Conceptual design alternatives
  - Preliminary cost estimates for alternatives
  - Responsibility charting for stakeholders
  - Selection guidelines for final design alternative
  - Preliminary feasibility analysis – technical and economic feasibility
  - Preliminary schedule
- Project execution and control
  - Project Execution Plan (PEP) – How to develop an effective execution plan
  - Coordination and Control Procedures
  - Detailed Schedule
  - Detailed Engineering
  - Safety Process Hazard Analysis
  - Construction - Logistics, work Permits, Safety
  - Quality Control / Quality Assurance
  - Project Change management System
  - Progress Monitoring and reporting
  - Project Management Tools
- Workshop 1 - Key principles and guidelines for successful projects
  - Best practices for project success
  - Common causes of project failures
  - Case study – Anatomy of a project
  - Capturing key learnings

Technical Evaluation Analysis

Project Risk and Contingency Analysis
- Key issues in project analysis
  - Market analysis – Supply and demand
  - Technical analysis – Technical viability; sensible choices
  - Financial analysis – financial viability; return on investment; risk
  - Economic analysis – social cost-benefit
  - Environmental analysis – likely ecological damage; restoration measures/costs
  - Risk analysis – Levels of risk associated with the project
- Analysis of project technical and engineering aspects
  - Purpose of technical analysis
  - Technical viability
    - Design basis
    - Existing and proven technologies
    - New and developmental technologies
    - Regulatory approvals – lead time, resources
    - Risk considerations – obsolescence, continuous technical support,
  - Sensible choices
    - Location
    - Process, equipment, methods, procedures
    - Size - optimal scale of operation
    - Constructability, operability and maintainability
    - Availability of human resources, power, and other inputs
    - Realistic work schedule
- Applicable regulations, codes, standards - design and construction, HSE
- Mechanical integrity, management of change

Environmental Analysis
- Consideration on environmental aspects
  - What is the likely damage caused by the project to the environment?
  - What is the cost of restoration measures required to ensure that the damage in the environment is contained within acceptable limits?
- Applicable regulations and specifications
- Due diligence

Project Risk Considerations
- Types of Risks Associated with Projects
  - Market risk
  - Human resource
  - Financial resources
  - Technology risk
  - Management risk
  - Timing
  - Intellectual property right issues
  - Regulation risks
- Risk assessment methods and recommended practices
- Risk Management and Contingency
  - Level of uncertainty in project life cycle
  - Risk analysis and mitigation measures
  - Contingency

Workshop 2 – Technical Evaluation of Projects
- Case study – Technical evaluation of a capital project

Economic Evaluation Analysis

Objectives of Economic Evaluation Analysis
- Definitions and overview
- Typical categories of engineering economic decisions
  - New Product and Product Expansion
  - Equipment and Process Selection
  - Equipment Replacement
  - Cost Reduction
  - Service Improvement

Economic (Financial) Evaluation
- Introduction
- Basic concepts of economic evaluation
- Economic evaluation methods – static and dynamic
  - Simple payback
  - Benefit-cost ratio (BCR)
  - Net Present Value (NPV)
  - Internal rate of return (IRR)
- Capital equivalent of energy and maintenance savings

Principles of Time Value of Money and the Discount Rate
- Discounted cash flow (DCF) calculation - Definitions and premises
- Project Cash Flow Components
- Discounting and time-value considerations
- Distinguishing cash flow and other measures of profitability
- Cost of capital and inflation issues
- Capital budgeting techniques and best practices
- Methods of computing time-value of money
  - The algebraic (or formula) method
  - The financial table method
  - The financial calculator method

Methods of Ranking Investment Proposals
- Non-Discounted Cash Flow Methods
  - Payback method (or Payback Period)
  - Accounting rate of return (ARR)
- Discounted Cash Flow Methods
  - Net Present Value Method (NPV)
  - Internal rate of return (IRR)
- Profitability index (PI)

Workshop 3 – Economic Evaluation of Projects
- Case study – Economic evaluation of a capital project

Business Focused Facilities

Business-Focused Facilities (BFF)
- Economic interpretation of engineering work
- Fundamental BFF principles
  - Total cost (full cycle) perspective
  - Common and clear goals
  - Adaptive process and change management
  - Teamwork
  - Continuous improvement

Life-Cycle (Total) Cost Analysis
- Basics of life cycle cost (LCC) analysis
- LCC Models - SAE model
- Life-cycle management (value management)
  - Renewal/replacement intervals,
  - Servicing costs,
  - Failure consequences,
  - Asset redundancy,
  - Maintenance strategies,
  - Energy efficiency,
  - Design life service factor

Effective Life-Cycle Management Tools
- Engineering economics
- Remaining life estimates
- Statistical analysis,
- Opportunity costing
- LCC Calculation Procedures

Project Cost Estimating
- Types of estimates, accuracy
- Estimating methods
- Cost indices and economic indicators
- Direct and indirect costs
- Computer based estimating

Equipment Sizing and Costs
- Power Sizing Model
- Rough estimates
- Semi-detailed estimates
- Detailed estimates

Workshop 4 – Cost Estimating
- Case studies – Project cost estimates using different methods

Evaluation of Maintenance Projects

Types of Maintenance Projects
- Complete turnarounds – extent, frequency
- Opportunistic minor turnarounds
- Specialized repair methods
- Replacement in kind and improvement opportunities
- Specialized Inspection projects – Application and frequency

Concept of Component Life
- Introduction
- Physical life
- Economic life
- Technical life – technical obsolescence

Technical Evaluation of Maintenance Projects
- Key project characteristics and special requirements
  - Significance of schedule and maintainability – optimum cost or least downtime
  - Availability of human resources
  - Constructability considerations
- Fitness-for-service assessments (FFS
  - Basics of FFS
  - Run/repair/replace decisions
- Alternative repair strategies and methods
  - Temporary repairs
  - Permanent repairs
  - Alternate repair technologies and procedures
- Management of change
  - Basics of management of change
  - Impact of maintenance projects on mechanical integrity and reliability
  - Regulatory, codes and standards requirements

Workshop 5 – Evaluation of Maintenance Projects

Time Plan for the Training Program

Maintenance Planning, Process Engineering , Instrumentation Training Courses

Categoryes

Economic & Technical Evaluations in Engineering & Maintenance

To provide you with:

Project Initiation and Development

Technical Evaluation Analysis

Economic Evaluation Analysis

Business Focused Facilities

Evaluation of Maintenance Projects

Time Plan for the Training Program

Categories

Other links

Search in site

Mailing List

Search for the certificate

Contact us

Working hours

About US