Conceptual Studies is a critical phase of Engineering Design development. During this phase, the technologies to be utilized for the facility is finalized based on a techno-commercial analysis. Feasibility study is a part of Conceptual Studies.
Conceptual Studies involves the following steps
Modeling and Design Development
Technology and cost are the two major factorsthat decide the fate of the project. During this stage, different technologies are modeled and their technical feasibility is analyzed. The modeling is carried out using commercial & robust software to ensure the client’s requirements are meet. Once the viable technologies are identified, next step would be techno-commercial analysis.
During this phase, the licensor and vendors of the technologies are contacted to identify the CAPEX and calculate the OPEX based on their inputs. The CAPEX and OPEXcan also be calculated using commercial software. Once the cost of each technology is obtained, cost benefit analysis based on CAPEX and OPEX of the each technology is performed. The recommendations are provided based on the review of the cost-benefit analysis of all the technologies. This concludes the conceptual engineering design.