Professional Documents
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Cost vs Performance:
- Because COST is so important in selecting materials, it is logical to consider cost at the
start of the material selection process.
- The final choice is a trade -off between COST and PERFORMANCE,
- Cost is a most useful parameter when it can be related to a critical material property
that controls the performance of the design.
- It is also very important to emphasise that there are many ways to compute costs such
as:
o Total life-cycle cost : it consist of initial cost of the material and manufacturing
cost as will as running and operating cost.
o Cost per unit property method : one property stands out as the most critical
service requirement. In this case, it is possible to estimate how much various
materials to provide this requirement will cost.
Weighted Property Method:
- In this method each material requirement (or property) is assigned a certain weight
(which depends on its importance to the performance of the design).
- This method attempts to:
o Quantify how important each desired requirement is by determining a weighting
factor (α)
o Quantify how well a candidate material satisfies each requirement by determining
a scaling factor (β).
Value Analysis.
Failure Analysis.
Benefit -Cost Analysis.