The selection of power transformer is very important to power sector. Most methods are utilized according to the initial cost and don’t consider the synthetical evaluation of economy and technology. Based on previous research, this paper addresses a new practical probabilistic life cycle cost model. Then, in order to demonstrate the practicability of probabilistic life cycle cost for the power ...

System architectures evolve over time. Accordingly, the dynamic properties of architectures reflect how systems respond to change, and this response ultimately impacts cost. In prior work we make an explicit connection between the architectural diagrams of Model-Based Systems Engineering (MBSE), parametric cost estimation, and network science. Specifically, by treating the DoD Architecture Fram...

It is well known that the costs to fix errors increase as the project matures, but how fast do those costs build? A study was performed to determine the relative cost of fixing errors discovered during various phases of a project life cycle. This study used three approaches to determine the relative costs: the bottom-up cost method, the total cost breakdown method, and the top-down hypothetical...

Numerical optimization methods offer a powerful new technology for pump users when combined with pumping system analysis software. Whether the design goal is to reduce first costs or life-cycle costs, this technology promises to significantly reduce pumping system costs and energy usage. Optimization methods work by automatically selecting pipe and pump sizes to minimize cost. Design engineers ...