ViewPoint® Cost Benefit Enhancements

November 9, 2015

Predictive Service recently released an update to ViewPoint which includes enhancements to the cost benefit calculations. The system automatically calculates a cost benefit savings for each problem reported. These calculations are based upon algorithms within the system and variables populated by the user.

In the previous versions, the user assigned variables applied to all problems found through all recorded dates for the program. Some examples of the variables included are; hours of production, cost of energy in kilowatt hours, hourly cost of labor (mechanical, electrical, etc.) and annual production throughput. Once set by the user, the variables were applied to the system algorithms to calculate savings for each problem reported.

In this recent update, the user can now set specific variables for multiple date ranges. For example, if the cost of energy from your electricity provider changed from 2014 to 2015, you can use a different cost in the calculation for problems found in 2014 versus problems found in 2015.

Energy Cost for 2014 - $0.08 per kWh

Energy Cost for 2015 - $0.10 per kWh

The system will automatically and retroactively, if applicable, adjust the savings reported in the system for those new variables.

You can now find the new cost benefit settings under the Cost Benefit tab, by clicking on the down arrow to the right. (previously located under the system tab)
 

 

To adjust cost benefit settings for all new inspections, move the orange box on the purple timeline bar to the current date (furthest to the left). Adjust the variables below and click on save to store. All new inspections will use those settings to calculate cost benefits.

To retroactively adjust the settings for prior years or other former time periods, move the orange box on the timeline to the right. The timeline bar will automatically size to the earliest recorded data in your program. In the example screenshot below, the year 2006 was the earliest recorded program activity. As you move the orange box along the timeline, the date range below (in quarters) will guide you to the desired new set point.  Adjust the variables for that date range and the system will use those settings for any reported problems from that point until the next set point to the left is found. Set points will be indicated by tick marks along the timeline.

 

 


This enhancement increases the accuracy and dependability of savings over the life of your program. Providing an automated cost benefit savings calculation within ViewPoint allows for a clear understanding of your return on investment and a metric for continuous improvements. For questions regarding the new enhancements or any other service Predictive Service provides, please send inquiries to info@predictiveservice.com