Techno-economic Analysis Working Group
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Overview and Purpose
TEA is a complementary domain to several domains within IOF. Within TEA, concepts from techno-economic analysis and manufacturing design lend themselves to optimization and financial achievability of manufacturing processes. While all these aspects are important within manufacturing, they are also important in most companies’ program and project management.
Current TEA methodology is somewhat siloed within companies’ financial planning and research & development departments. This siloing leads to significant challenges in areas of reproducibility, traceability, documentation and knowledge sharing internal to companies. TEA process designs and evaluations are vital across companies, as they enhance communication between internal groups regarding current development, cost impediments and possible solutions. Through knowledge sharing, separate projects can learn from one another, reusing knowledge of sensitivity analyses and risk mitigation in newer projects. Lastly, when it comes to cross-company collaborations, TEA interoperability can enhance the pace of the collaboration. It can also ensure that all parties involved understand financial viability and achievability of the collaboration itself.
The TEA WG will leverage the work done by the Production Planning and Scheduling (PPS) WG. It will also leverage work done in BMIC Process WG, in planned and executed manufacturing processes. The TEA WG will provide enhancements with planned analysis specifications, the execution of planned analyses, and execution assessment results. These analyses and assessments provide a holistic evaluation of a manufacturing process, from design to proof-of-concept to manufacturing floor implementation, to re/use of tools and materials that reduce overall costs. With the holistic view, companies can better understand the cost/benefit analysis and make decisions about the financial viability of their production process or plan. They are also able to plan for future research and development by understanding better their current allocations and possible profits to reinvest.
Leadership
- Chairs: Arkopaul Sarkar, Milos Drobnjakovic, Jim Logan, Melinda Hodkiewicz