Question

Short notes on power sizing model of cost estimation

Answer 1

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the lower sizing model of cost estimation.and power sizing of cost estimate.

Answer 2

Power sizing model of cost estimation:

The ‘power sizing model’ of cost estimation is based on economies of scale. It is used for estimating the cost of equipment and other industrial items.  

Explanation:

The known cost or price of a model commodity is either scaled up or are scaled-down which results in economies of scale. This is commonly used in the purchasing of items. This can be explained with an example of a single-story building and a double-story building. The cost of A would be less in comparison to cost B.  

The equation below will explain the concept:

$\bold{\text { Cost of } \mathrm{B}=(\text { Cost of } \mathrm{A})[(\text { Size of } \mathrm{B}) /(\text { Size of } \mathrm{A})]^{\mathrm{x}}}$

The equation represents x as the power sizing exponent. If the exponent is greater than 1 then it shows a ‘diseconomy’ of scale. If the exponent is shown a less than 1 then it indicates an economy of scale. If the exponent shows as 1 then there is no economy of scale.