The project capital cost is one of the important parameter on which the unit cost of power is worked out. If we focus on set up cost of power projects, it not only involves substantial capital investment but also the gestation period is longer compared to other industries. If the cost of power supplied to a consumer were to be reduced, the cost associated with each component would need to be reduced. The cost of power supplied to the end consumer comprises of components like cost of setting up the plant, operational cost, cost of transmission and cost of distribution. Various factors, which can have a adverse impact on standardization, are also discussed in the later part before concluding this paper. Savings in cost is explained in the form of case study, which shows how much percentage of cost can be saved, by designing & executing multiple projects simultaneously using standardization technique. Planning & monitoring of such multiple projects in one of the project management tool, called Primavera Project Planner (P3), follow this. In this paper, after going through the benefits of standardization, various technical aspects are discussed, like what all facilities can have standardized design and what all can have site-specific designs depend on contract & site conditions. Using this concept, one can maximize the benefits of design standardization and bulk procurement. Standardization is the extensive use of processes or procedures, products or components, in which there is regularity, or repetition and a record of successful practice. This paper attempts to identify one of the ways of capital cost reduction i.e., by designing and executing multiple power projects simultaneously using standardization technique.
Across the globe, research is being done to reduce the capital cost of power projects to ultimately reduce the cost of unit power supplied to end consumer.
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