ABSTRACT
Before initiating the development of a process, at various stages in its development, and before attempting the design of a process and plant, process engineers must make economic evaluations. The evaluation determines whether they should undertake a project, abandon it, continue with it (but with further research), or take it to the pilot plant stage. If they decide to proceed with process development, an economic evaluation will pinpoint those parts of the process requiring additional study. Winter [1] has stated that the economic evaluation of a project is a continuous procedure. As the process engineer gathers new information, he can make a more accurate evaluation followed by a reexamination of the project to determine if it should continue.
