(111c) Business Justification for the Investment In Dynamic Simulators

Almost everyone who has used a dynamic simulator for testing automation system configuration, validating process design, or training operators claim that they received great value from the simulation tools.  But how do users build a solid economic justification for this investment?  This paper will show how to justify the investment in dynamic simulation by increasing the Net Present Value (NPV) and Internal Rate of Return (IRR) of the total automation system capital investment.   Case studies are shown to demonstrate the operational effectiveness and project efficiency that influence these calculations, plus examples how the simulation tools were applied.