How can you use sensitivity analysis to improve process economics?
Sensitivity analysis is a powerful tool for chemical engineers to evaluate and optimize the economic performance of a process. It allows you to identify the key parameters that affect the profitability, such as capital and operating costs, product prices, and conversion rates, and to quantify how much they change the net present value (NPV) or internal rate of return (IRR) of the project. In this article, you will learn how to use sensitivity analysis to improve process economics and feasibility.