Importance

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Abstract

A process control system includes economic models disposed in communication with process control modules, as well as with sources of economic data, such as cost, throughput and profit data, and uses the economic models to determine useful economic parameters or information associated with the actual operation of the process plant at the time the plant is operating. The economic models can be used to provide financial statistics such as profitability, cost of manufactured product, etc. in real time based on the actual current operating state of the process and the business data associated with the finished product, raw materials, etc. These financial statistics can be used to drive alarms and alerts within the process network and be used as inputs to process plant optimizers, etc. to provide for better or more optimal control of the process and to provide a better understanding of the conditions which lead to maximum profitability of the plant.

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First Claim