Common Costs

Establishing cost values for each installation process, component design, and project parameter is essential to ORBIT’s ability to calculate CapEx. Common costs and cost rates were specified as default values in each module and thus spread out across multiple files. Further, as modules were added or updated over time, these common costs were either updated or were simply left as an older value. As of v1.2 (see ORBIT Changelog), all the common costs in the design modules were centralized under common_cost.yaml. That way, users can access a single file and update any number of costs they wish to change.

Cost by Procurement Year

Several users and industries partners have noted that some costs are out of date and therefore may not fully represent a project. We applied method to adjust to account for commodity, consumer, and labor indices as well as inflation to update the common cost of certain components. The following figure is a snapshot from the spreadsheet defaults/cost_by_procurement.png, and it shows the Class, attribute_name, units, and the cost value in 2024 USD. In future releases, these costs will adjust based on the market indices so any user can be sure that the common costs in their model is not outdated.

../_images/cost_by_procurement.png — Cost by Procurement Year. Note that values are inflated from the procurement year USD to 2024 USD using CPI

The spreadsheet above is for tracking purposes, and the common cost values are added to the files shown below. Costs for all the DesignPhases are stored in common_cost.yaml; cable costs are stored in each cable file in the library/cables folder; vessel costs are stored in each vessel file in the library/vessels folder; and project costs are stored in manager.py.

/path/to/orbit/ORBIT/core/defaults/common_cost.yaml
/path/to/orbit/library/cables/*.yaml
/path/to/orbit/library/vessels/*.yaml
/path/to/orbit/ORBIT/manager.py

Questions regarding the methodology or organization of the common costs? Reach out to the ORBIT Team

Note

This page is under construction and may receive an example in future releases.