Search results for: maintenance cost.

Authors: O. J. Olaniran, P. E. D. Love, D. J. Edwards, O. Olatunji, J. Matthews

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Cost overruns are a persistent problem in oil and gas megaprojects. Whilst the extant literature is filled with studies on incidents and causes of cost overruns, underlying theories to explain their emergence in oil and gas megaprojects are few. Yet, a way to contain the syndrome of cost overruns is to understand the bases of ‘how and why’ they occur. Such knowledge will also help to develop pragmatic techniques for better overall management of oil and gas megaprojects. The aim of this paper is to explain the development of cost overruns in hydrocarbon megaprojects through the perspective of chaos theory. The underlying principles of chaos theory and its implications for cost overruns are examined and practical recommendations proposed. In addition, directions for future research in this fertile area provided.

Keywords: Chaos theory, oil and gas, cost overruns, megaprojects.

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Authors: Nazirah Zainul Abidin, Nurul Zahirah Mokhtar Azizi

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Cost has always been the leading concern in green building development. The perception that construction cost for green building is higher than conventional buildings has only made the discussion of green building cost more difficult. Understanding the factors that will influence the cost of green construction is expected to shed light into what makes green construction more or at par with conventional projects, or perhaps, where cost can be optimised. This paper identifies the elements of cost before shifting the attention to the influencing factors. Findings from past studies uncovered various factors related to cost which are grouped into five focal themes i.e. awareness, knowledge, financial, technical, and government support. A conceptual framework is produced in a form of a flower diagram indicating the cost influencing factors of green building development. These factors were found to be both physical and non-physical aspects of a project. The framework provides ground for the next stage of research that is to further explore how these factors influence the project cost and decision making.

Keywords: Green project, factors influencing cost, hard cost, soft cost.

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Authors: E. Ardil, Erdem Uçar, Parvinder S. Sandhu

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As the majority of faults are found in a few of its modules so there is a need to investigate the modules that are affected severely as compared to other modules and proper maintenance need to be done on time especially for the critical applications. In this paper, we have explored the different predictor models to NASA-s public domain defect dataset coded in Perl programming language. Different machine learning algorithms belonging to the different learner categories of the WEKA project including Mamdani Based Fuzzy Inference System and Neuro-fuzzy based system have been evaluated for the modeling of maintenance severity or impact of fault severity. The results are recorded in terms of Accuracy, Mean Absolute Error (MAE) and Root Mean Squared Error (RMSE). The results show that Neuro-fuzzy based model provides relatively better prediction accuracy as compared to other models and hence, can be used for the maintenance severity prediction of the software.

Keywords: Software Metrics, Fuzzy, Neuro-Fuzzy, SoftwareFaults, Accuracy, MAE, RMSE.

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Authors: Amin Chegenizadeh, Mahdi Keramatikerman, Hamid Nikraz

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Pavement engineering plays a significant role to develop cost effective and efficient highway and road networks. In general, pavement regarding structure is categorized in two core group namely flexible and rigid pavements. There are various benefits in application of rigid pavement. For instance, they have a longer life and lower maintenance costs in compare with the flexible pavement. In rigid pavement designs, temperature and thickness are two effective parameters that could widely affect the total cost of the project. In this study, a numerical modeling using Kenpave-Kenslab was performed to investigate the effect of these two important parameters in the rigid pavement.   

Keywords: Rigid pavement, Kenpave, Kenslab, thickness, temperature.

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Authors: Hilal A. Abdelwali, Elsayed E.M. Ellaimony, Ahmad E.M. Murad, Jasem M.S. Al-Rajhi

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Due to the excess of a vehicle operation through its life, some elements may face failure and deteriorate with time. This leads us to carry out maintenance, repair, tune up or full overhaul. After a certain period, the vehicle elements deteriorations increase with time which causes a very high increase of doing the maintenance operations and their costs. However, the logic decision at this point is to replace the current vehicle by a new one with minimum failure and maximum income. The importance of studying vehicle replacement problems come from the increase of stopping days due to many deteriorations in the vehicle parts. These deteriorations increase year after year causing an increase of operating costs and decrease the vehicle income. Vehicle replacement aims to determine the optimum time to keep, maintain, overhaul, renew and replace vehicles. This leads to an improvement in vehicle income, total operating costs, maintenance cost, fuel and oil costs, ton-kilometers, vehicle and engine performance, vehicle noise, vibration, and pollution. The aim of this paper is to find the optimum replacement policies of Kuwait Passenger Transport Company (KPTCP) fleet of busses. The objective of these policies is to maximize the busses pure profits. The dynamic programming (D.P.) technique is used to generate the busses optimal replacement policies

Keywords: Replacement Problem, Automotive Replacement, Dynamic Programming, Equipment Replacement, K.P.T.C.

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Authors: Nurul Zahirah M.A., N. Zainul Abidin, Azlan Raofuddin Nuruddin

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Despite all the hype about green building, many developers are still resistant to the idea of building green due to the common perception that green building construction is expensive. This contradicts with scholarly findings that identify only a marginal cost premium or none at all given that green design is considered during the design process and planning stage. Nevertheless, cost implications continue to become an issue when deciding to build green. The planning stage is of strategic importance as decisions made at this early stage would influence the project cost thereafter. Using analysis of existing literature, the paper identifies six elements of soft cost that are considered in the planning stage. The elements include consultants, green building consultant, certification, commissioning, market, and tax. Out of the six elements, commissioning represents the bulk of soft cost for buildings seeking green certification. The study concluded that, although hard cost may have a bigger impact on the project cost, but soft cost is the hidden cost which people tend to ignore. Poor consideration of soft cost during planning stage may lead to over-realistic expectations and ultimately, overlooked cost additions.

Keywords: Green building, cost element, soft cost, developer decision.

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Authors: A. Eman Mohammed

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Algae-based fuel are considered a promising sources of clean energy, and because it has many advantages over traditional biofuel, research and business ventures have driven into developing and producing Algal-biofuel. But its production stages create a cost structure that it is not competitive with traditional fuels. Therefore, cost becomes the main obstacle in commercial production purpose. However, the present research which aims at using cost structure model, and designed MS-Dose program, to investigate the a mount of production cost and determined the parameter had great effect on it, second to measured the amount of contribution rate of algae in process the pollution by capturing Co2 from air . The result generated from the model shows that the production cost of biomass is between $0.137 /kg for 100 ha and $0.132 /kg for 500 ha which was less than cost of other studies, while gallon costs between $3.4 - 3.5, more than traditional sources of oil about $1 ,which regarded as a rate of contribution of algal in capturing CO2 from air.

Keywords: Cost Structure Model, Operation Costs(Production Cost), Capital Costs, Algae.

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Authors: Piyali Chaudhuri, Peter T. Martin, Aleksandar Z. Stevanovic, Chongkai Zhu

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Loop detectors report traffic characteristics in real time. They are at the core of traffic control process. Intuitively, one would expect that as density of detection increases, so would the quality of estimates derived from detector data. However, as detector deployment increases, the associated operating and maintenance cost increases. Thus, traffic agencies often need to decide where to add new detectors and which detectors should continue receiving maintenance, given their resource constraints. This paper evaluates the effect of detector spacing on freeway travel time estimation. A freeway section (Interstate-15) in Salt Lake City metropolitan region is examined. The research reveals that travel time accuracy does not necessarily deteriorate with increased detector spacing. Rather, the actual location of detectors has far greater influence on the quality of travel time estimates. The study presents an innovative computational approach that delivers optimal detector locations through a process that relies on Genetic Algorithm formulation.

Keywords: Detector, Freeway, Genetic algorithm, Travel timeestimate.

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Authors: A. Alseiari, P. Farrell

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Maintenance has evolved into an imperative function, and contributes significantly to efficient and effective equipment performance. Total Productive Maintenance (TPM) is an ideal approach to support the development and implementation of operation performance improvement. It systematically aims to understand the function of equipment, the service quality relationship with equipment and the probable critical equipment failure conditions. Implementation of TPM programmes need strategic planning and there has been little research applied in this area within Middle-East power plants. In the power sector of Abu Dhabi, technologically and strategically, the power industry is extremely important, and it thus needs effective and efficient equipment management support. The aim of this paper is to investigate barriers to successful TPM implementation in the Abu Dhabi power industry. The study has been conducted in the context of a leading power company in the UAE. Semi-structured interviews were conducted with 16 employees, including maintenance and operation staff, and senior managers. The findings of this research identified seven key barriers, thus: managerial; organisational; cultural; financial; educational; communications; and auditing. With respect to the understanding of these barriers and obstacles in TPM implementation, the findings can contribute towards improved equipment operations and maintenance in power organisations.

Keywords: Abu Dhabi power industry, TPM implementation, key barriers, organisational culture, critical success factors.

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Authors: Mehmet Savsar

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Reliability and availability of power stations are extremely important in order to achieve a required level of power generation. In particular, in the hot desert climate of Kuwait, reliable power generation is extremely important because of cooling requirements at temperatures exceeding 50-centigrade degrees. In this paper, a particular power plant, named Sabiya Power Plant, which has 8 steam turbines and 13 gas turbine stations, has been studied in detail; extensive data are collected; and availability of station units are determined. Furthermore, a simulation model is developed and used to analyze the effects of different maintenance policies on availability of these stations. The results show that significant improvements can be achieved in power plant availabilities if appropriate maintenance policies are implemented.

Keywords: Power plants, steam turbines, gas turbines, maintenance, availability, simulation.

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Authors: M. Khatami Rad, N. Jamali, M. Torabizadeh, A. Noshadi

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In this paper, an artificial neural network simulator is employed to carry out diagnosis and prognosis on electric motor as rotating machinery based on predictive maintenance. Vibration data of the primary failed motor including unbalance, misalignment and bearing fault were collected for training the neural network. Neural network training was performed for a variety of inputs and the motor condition was used as the expert training information. The main purpose of applying the neural network as an expert system was to detect the type of failure and applying preventive maintenance. The advantage of this study is for machinery Industries by providing appropriate maintenance that has an essential activity to keep the production process going at all processes in the machinery industry. Proper maintenance is pivotal in order to prevent the possible failures in operating system and increase the availability and effectiveness of a system by analyzing vibration monitoring and developing expert system.

Keywords: Condition based monitoring, expert system, neural network, fault detection, vibration monitoring.

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Authors: Temsiri Sapsaman, Anocha Bhocarattanahkul

Abstract:

The maintenance of work rolls in hot strip processing has been lengthy and difficult tasks for hot strip manufacturer because heavy work rolls have to be taken out of the production line, which could take hours. One way to increase the time between maintenance is to improve the effectiveness of the work roll cooling system such that the wear and tear more slowly occurs, while the operation cost is kept low. Therefore, this study aims to improve the work roll cooling system by providing the manufacturer the relationship between the work-roll temperature reduced by cooling and the water flow that can help manufacturer determining the more effective water flow of the cooling system. The relationship is found using simulation with a systematic process adjustment so that the satisfying quality of product is achieved. Results suggest that the manufacturer could reduce the water flow by 9% with roughly the same performance. With the same process adjustment, the feasibility of finishing-mill-stand reduction is also investigated. Results suggest its possibility.

Keywords: Work-roll cooling system, hot strip process adjustment, feasibility study.

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Authors: S. Ayub, S.N. Danish, S.R. Qureshi

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The world's population continues to grow at a quarter of a million people per day, increasing the consumption of energy. This has made the world to face the problem of energy crisis now days. In response to the energy crisis, the principles of renewable energy gained popularity. There are much advancement made in developing the wind and solar energy farms across the world. These energy farms are not enough to meet the energy requirement of world. This has attracted investors to procure new sources of energy to be substituted. Among these sources, extraction of energy from the waves is considered as best option. The world oceans contain enough energy to meet the requirement of world. Significant advancements in design and technology are being made to make waves as a continuous source of energy. One major hurdle in launching wave energy devices in a developing country like Pakistan is the initial cost. A simple, reliable and cost effective wave energy converter (WEC) is required to meet the nation-s energy need. This paper will present a novel design proposed by team SAS for harnessing wave energy. This paper has three major sections. The first section will give a brief and concise view of ocean wave creation, propagation and the energy carried by them. The second section will explain the designing of SAS-2. A gear chain mechanism is used for transferring the energy from the buoy to a rotary generator. The third section will explain the manufacturing of scaled down model for SAS-2 .Many modifications are made in the trouble shooting stage. The design of SAS-2 is simple and very less maintenance is required. SAS-2 is producing electricity at Clifton. The initial cost of SAS-2 is very low. This has proved SAS- 2 as one of the cost effective and reliable source of harnessing wave energy for developing countries.

Keywords: Clean Energy, Wave energy

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Authors: Antonis Sideris, Elias Chlis Kalogeropoulos, Konstantia Moirogiorgou

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The present study proposes a methodology for the efficient daily management of fleet vehicles and construction machinery. The application covers the area of remote monitoring of heavy-duty vehicles operation parameters, where specific sensor data are stored and examined in order to provide information about the vehicle’s health. The vehicle diagnostics allow the user to inspect whether maintenance tasks need to be performed before a fault occurs. A properly designed machine learning model is proposed for the detection of two different types of faults through classification. Cross validation is used and the accuracy of the trained model is checked with the confusion matrix.

Keywords: Fault detection, feature selection, machine learning, predictive maintenance.

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Authors: Mohammed S. Al-Ansari

Abstract:

This paper presents an analytical model to estimate the cost of an optimized design of reinforced concrete isolated footing base on structural safety. Flexural and optimized formulas for square and rectangular footingare derived base on ACI building code of design, material cost and optimization. The optimization constraints consist of upper and lower limits of depth and area of steel. Footing depth and area of reinforcing steel are to be minimized to yield the optimal footing dimensions. Optimized footing materials cost of concrete, reinforcing steel and formwork of the designed sections are computed. Total cost factor TCF and other cost factors are developed to generalize and simplify the calculations of footing material cost. Numerical examples are presented to illustrate the model capability of estimating the material cost of the footing for a desired axial load.

Keywords: Footing, Depth, Concrete, Steel, Formwork, Optimization, Material cost, Cost Factors.

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Authors: K. Bourouni, M. Chacha, T. Jaber, A. Tchantchane

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In Multi-Effect Distillation (MED) desalination evaporators, the scale deposit outside the tubes presents a barrier to heat transfers reducing the global heat transfer coefficient and causing a decrease in water production; hence a loss of efficiency and an increase in operating and maintenance costs. Scale removal (by acid cleaning) is the main maintenance operation and constitutes the major reason for periodic plant shutdowns. A better understanding of scale deposition mechanisms will lead to an accurate determination of the variation of scale thickness around the tubes and an improved accuracy of the overall heat transfer coefficient calculation. In this paper, a coupled heat transfer-calcium carbonate scale deposition model on a horizontal tube bundle is presented. The developed tool is used to determine precisely the heat transfer area leading to a significant cost reduction for a given water production capacity. Simulations are carried to investigate the influence of different parameters such as water salinity, temperature, etc. on the heat transfer.

Keywords: Multi-effect-evaporator, water desalination, scale deposition, heat transfer coefficient.

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Authors: Ilqar Ramazanli

Abstract:

The matrix completion problem has been studied broadly under many underlying conditions. In many real-life scenarios, we could expect elements from distinct columns or distinct positions to have a different cost. In this paper, we explore this generalization under adaptive conditions. We approach the problem under two different cost models. The first one is that entries from different columns have different observation costs, but, within the same column, each entry has a uniform cost. The second one is any two entry has different observation cost, despite being the same or different columns. We provide complexity analysis of our algorithms and provide tightness guarantees.

Keywords: Matrix completion, adaptive learning, heterogeneous cost, Matroid optimization.

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Authors: Jae Young Park, Soongyu Kwon, Kyu Han Kim, Hyeong Geon Lee, Jong Tae Kim

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This paper considers the problem of finding low cost chip set for a minimum cost partitioning of a large logic circuits. Chip sets are selected from a given library. Each chip in the library has a different price, area, and I/O pin. We propose a low cost chip set selection algorithm. Inputs to the algorithm are a netlist and a chip information in the library. Output is a list of chip sets satisfied with area and maximum partitioning number and it is sorted by cost. The algorithm finds the sorted list of chip sets from minimum cost to maximum cost. We used MCNC benchmark circuits for experiments. The experimental results show that all of chip sets found satisfy the multiple partitioning constraints.

Keywords: lowest cost chip set, MCNC benchmark, multi-way partitioning.

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Authors: Chong-Yang Qiao, Teeravarunyou Sakol

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Current production-oriented factories need maintenance operators to work in shifts monitoring and inspecting complex systems and different equipment in the situation of mechanical breakdown. Augmented reality (AR) is an emerging technology that embeds data into the environment for situation awareness to help maintenance operators make decisions and solve problems. An application was designed to identify the problem of steam generators and inspection centrifugal pumps. The objective of this research was to find the best medium of AR and type of problem solving strategies among analogy, focal object method and mean-ends analysis. Two scenarios of inspecting leakage were temperature and vibration. Two experiments were used in usability evaluation and future innovation, which included decision-making process and problem-solving strategy. This study found that maintenance operators prefer build-in magnifier to zoom the components (55.6%), 3D exploded view to track the problem parts (50%), and line chart to find the alter data or information (61.1%). There is a significant difference in the use of analogy (44.4%), focal objects (38.9%) and mean-ends strategy (16.7%). The marked differences between maintainers and operators are of the application of a problem solving strategy. However, future work should explore multimedia information retrieval which supports maintenance operators for decision-making.

Keywords: Augmented reality, situation awareness, decision-making, problem-solving.

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Authors: Nuran Bahar, Mehmet A. Akcayol

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In the aviation industry, many faults may occur frequently during the maintenance processes and assembly operations of complex structured aircrafts because of their high dependencies of components. These faults affect the quality of aircraft parts or developed modules adversely. Technical employee requires long time and high labor force while checking the correctness of each component. In addition, the person must be trained regularly because of the ever-growing and changing technology. Generally, the cost of this training is very high. Augmented Reality (AR) technology reduces the cost of training radically and improves the effectiveness of the training. In this study, the usage of AR technology in the aviation industry has been investigated and the effectiveness of AR with heads-up display glasses has been examined. An application has been developed for comparison of production process with AR and manual one.

Keywords: Aerospace, assembly quality, augmented reality, heads-up display.

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Authors: Mohamed A. Ismail, Samar M. M. Abdelmageed

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The main objective of this paper is to estimate the cost of road traffic accidents in Egypt. The Human Capital (HC) approach, specifically the Gross-Loss-of-Output methodology, is adopted for estimation. Moreover, cost values obtained by previous national literature are updated using the inflation rates. The results indicate an estimated cost of road traffic accidents in Egypt of approximately 10 billion Egyptian Pounds (about $US 1.8 billion) for the year 2008. In addition, it is expected that this cost will rise in 2009 to 11.8 billion Egyptian Pounds (about $US 2.1 billion).

Keywords: Cost, Gross-Loss-of-Output, Human CapitalApproach, Road Traffic Accidents.

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Authors: Niranjali Jayasuirya, Majell Backhausen

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Water Sensitive Urban Design (WSUD) features are increasingly used to treat and manage polluted stormwater runoff in urbanised areas. It is important to monitor and evaluate the effectiveness of the infrastructure in achieving their intended performance targets after constructing and operating these features overtime. The paper presents the various methods of analysis used to assess the effectiveness of the in-situ WSUD features, such as: onsite visual inspections during operational and non operational periods, maintenance audits and periodic water quality testing. The results will contribute to a better understanding of the operational and maintenance needs of in-situ WSUD features and assist in providing recommendations to better manage life cycle performance.

Keywords: Bio-retention swales, Maintenance plan, Operational plan, Water Sensitive Urban Design, Water quality improvement.

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Authors: S. Werrlich, E. Eichstetter, K. Nitsche, G. Notni

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Augmented Reality (AR) is a strong growing research topic in different training domains such as medicine, sports, military, education and industrial use cases like assembly and maintenance tasks. AR claims to improve the efficiency and skill-transfer of training tasks. This paper gives a comprehensive overview of evaluations using AR for assembly and maintenance training tasks published between 1992 and 2017. We search in a structured way in four different online databases and get 862 results. We select 17 relevant articles focusing on evaluating AR-based training applications for assembly and maintenance tasks. This paper also indicates design guidelines which are necessary for creating a successful application for an AR-based training. We also present five scientific limitations in the field of AR-based training for assembly tasks. Finally, we show our approach to solve current research problems using Design Science Research (DSR).

Keywords: Assembly, augmented reality, survey, training.

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Authors: Yousra Zakaria Ahmed, Ahmed El Gendy, Salah El Haggar

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In this paper, our methodology to assess sustainability of wastewater treatment technologies in Egypt is presented. The preliminary list of factors to be considered, as well as their ranking listed. The factors include, but are not limited to pollutants removal efficiency and energy consumption under the environmental dimension, construction cost, operation and maintenance costs and required land area cost under the economic dimension and public acceptance, noise and generating job opportunities for local residents. This methodology is intended to be a user-friendly screening tool to support the decision making process when investigating different wastewater treatment technologies in Egypt. Based on the research work results presented in this paper, it can be generally concluded that the categorization of some of the social and environmental aspects of sustainability is subjective and highly dependent on the local conditions and researchers’ background.

Keywords: Sustainability, wastewater treatment, sustainability assessment, Egypt.

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Authors: Leila Jafari, Viliam Makis

Abstract:

In this paper, the joint optimization of the economic manufacturing quantity (EMQ), safety stock level, and condition-based maintenance (CBM) is presented for a partially observable, deteriorating system subject to random failure. The demand is stochastic and it is described by a Poisson process. The stochastic model is developed and the optimization problem is formulated in the semi-Markov decision process framework. A modification of the policy iteration algorithm is developed to find the optimal policy. A numerical example is presented to compare the optimal policy with the policy considering zero safety stock.

Keywords: Condition-based maintenance, economic manufacturing quantity, safety stock, stochastic demand.

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Authors: Elsheikh Asser

Abstract:

Time and cost are the main goals of the construction project management. The first schedule developed may not be a suitable schedule for beginning or completing the project to achieve the target completion time at a minimum total cost. In general, there are trade-offs between time and cost (TCT) to complete the activities of a project. This research presents genetic algorithms (GAs) multiobjective model for project scheduling considering different scenarios such as least cost, least time, and target time.

Keywords: Genetic algorithms, Time-cost trade-off.

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Authors: Farhad Kolahan, Mahdi Abachizadeh

Abstract:

In this paper, a simulated annealing algorithm has been developed to optimize machining parameters in turning operation on cylindrical workpieces. The turning operation usually includes several passes of rough machining and a final pass of finishing. Seven different constraints are considered in a non-linear model where the goal is to achieve minimum total cost. The weighted total cost consists of machining cost, tool cost and tool replacement cost. The computational results clearly show that the proposed optimization procedure has considerably improved total operation cost by optimally determining machining parameters.

Keywords: Optimization, Simulated Annealing, Machining Parameters, Turning Operation.

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Authors: Marcel Chevalier, Léo Dupont, Sylvain Marié, Frédérique Roffet, Elena Stolyarova, William Templier, Costin Vasile

Abstract:

Industrial end users are currently facing an increasing need to reduce the risk of unexpected failures and optimize their maintenance. This calls for both short-term analysis and long-term ageing anticipation. At Schneider Electric, we tackle those two issues using both Machine Learning and First Principles models. Machine learning models are incrementally trained from normal data to predict expected values and detect statistically significant short-term deviations. Ageing models are constructed from breaking down physical systems into sub-assemblies, then determining relevant degradation modes and associating each one to the right kinetic law. Validating such anomaly detection and maintenance models is challenging, both because actual incident and ageing data are rare and distorted by human interventions, and incremental learning depends on human feedback. To overcome these difficulties, we propose to simulate physics, systems and humans – including asset maintenance operations – in order to validate the overall approaches in accelerated time and possibly choose between algorithmic alternatives.

Keywords: Degradation models, ageing, anomaly detection, soft sensor, incremental learning.

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Authors: Khaled S. Abdallah, Abdel-Aziz M. Mohamed

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Moving industries consume numerous resources and dispose masses of used packaging materials. Proper sorting, recycling and disposing the packaging materials is necessary to avoid a sever pollution disaster. This research paper presents a conceptual model to propose sustainable truck rental operations instead of the regular one. An optimization model was developed to select the locations of truck rental centers, collection sites, maintenance and repair sites, and identify the rental fees to be charged for all routes that maximize the total closed supply chain profits. Fixed costs of vehicle purchasing, costs of constructing collection centers and repair centers, as well as the fixed costs paid to use disposal and recycling centers are considered. Operating costs include the truck maintenance, repair costs as well as the cost of recycling and disposing the packing materials, and the costs of relocating the truck are presented in the model. A mixed integer model is developed followed by a simulation model to examine the factors affecting the operation of the model.

Keywords: Modeling, truck rental, supply chains management, simulation.

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Authors: Javad Elkaie Behjati, Mehrzad Minouei

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The present study aimed to assess the cost of money based on separating deposits and identifying actions and costs affecting in the process of cost of money in EN Bank of Iran (also known as Eghtesad Novin Bank). The method to calculate the cost of money is based on Activity-Based Costing (ABC). To conduct the study, the required data including deposits in banks and absorbed costs related to the same deposits were extracted from the financial statements of the bank. In order to cost the bank services properly as well as determining the commercial strategies required by commercial units, the data are precisely studied and the cost of each deposit is calculated according to the ABC. Eventually, the factors helping to improve the cost management and also a new model to calculate the cost of money in the bank are presented by some applicable formulas. Furthermore, some offers have been provided for users of both sections, in the practical section in commercial units and the theoretical one in universities.

Keywords: The cost of money, activity-based costing, banking, bank deposits, bank fees, services bank.

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