ISSN:
0003-5599
Source:
Emerald Fulltext Archive Database 1994-2005
Topics:
Mechanical Engineering, Materials Science, Production Engineering, Mining and Metallurgy, Traffic Engineering, Precision Mechanics
Notes:
Purpose - To analyze the different approaches used to estimate the cost of corrosion and understand the limitations so as to have proper appropriation in future appraisals. Design/methodology/approach - Four well-known approaches to analysis of cost of corrosion viz., the Uhlig method, the Hoar method, NBS-BCL input/output method and net present value method have been considered in great detail and the impact of these approaches on corrosion economy in different countries has been highlighted. Findings - Uhlig method of estimating corrosion cost always gives a conservative estimate of the direct cost of corrosion. The direct cost of corrosion, as estimated by the Hoar method, is found to be somewhat higher than is the estimate made using the Uhlig method, as shown by Shibata of Japan. The NBS-BCL method of input/output analysis, though apparently more scientific, is subject ultimately to uncertainties in quantifying the capital cost and intermediate output. The net present value method appears to be more realistic than do other approaches as it enables a life cycle costing of each structure/facility to be made and arrives at the most cost-effective corrosion control method. Even though all the above four approaches enable an estimation of direct cost of corrosion, there is no standard approach to assess the indirect cost of corrosion. Originality/value - In a developing economy, each and every industry has to go for systematic corrosion auditing in order to identify and adopt the most appropriate corrosion control measures and effect considerable savings. This paper would be of immense use in that regard.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1108/00035590510574899
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