Development of performance functions for economic performance assessment of process control systems

Abstract

Economic performance assessment (EPA) remains important to predict and verify the benefits from process control systems. In the latest techniques of EPA, performance functions (PFs) have an essential function. However, to the extent of the authors' knowledge, there has been no systematic approach to developing PFs. In this paper, a methodology for developing PFs is given and two case studies are given to show how it works. The methodology includes six crucial stages.