The materials engineer who can incorporate economic analysis in his technical investigations is more likely to gain support for his recommendations from cost conscious management. This paper reviews discounted cash flow techniques and presents in its first part two examples of such economic analysis: (i) Protecting a chemical plant against atmospheric corrosion (hot dip galvanizing vs. painting) (ii) Alternative cooling water circuits in a large petrochemical plant.

The second part deals with case histories demonstrating the effect of faulty design, materials selection, fabrication and construction on repair cost and loss of equipment and production. Counter measures must concentrate on both technological and human factors, e.g. NDT, failure analysis and statistics with feedback to key personnel, and setting free corrosion specialists from routine tasks by utilizing expert systems.

Subject
Circuits, Costs, Materials, Galvanized coatings, Steel, Engineers, Organic coatings, Corrosion protection, Cooling water, Corrosion monitoring, Stainless steel, Maintenance, Paints
© 1987 Association for Materials Protection and Performance (AMPP). All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording, or otherwise) without the prior written permission of AMPP. Positions and opinions advanced in this work are those of the author(s) and not necessarily those of AMPP. Responsibility for the content of the work lies solely with the author(s).
1987
Association for Materials Protection and Performance (AMPP)
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