Welcome to FINCALC - A Cost of Corrosion Estimator
FINCALC is a web based financial estimator that enables corrosion practitioner,
to make preliminary economic assessments of various approaches to overcoming corrosion-related issues.
Corrosion being the degradation of materials causes the degradation of a material's properties.
The result can be a decreased ability of the material to perform in the way that was originally
intended. Repairs tend to be required, their frequency decreasing and their cost increasing.
In the extreme, corrosion causes the material to degrade to such an extent that it
must be replaced. If the material has failed, the loss can extend beyond the part itself, for
example leakage of contents, contamination of the immediate environment, or loss of
the superstructure in the material plays a key structural role. Each of these events has a cost that
drives the decision on further repair versus replacement. In this sense, a corrosion problem
is an economic problem. A preliminary economic analysis should not only be part of any
approach to solving a corrosion problem but should also be included as part of any initial
research, development, and testing of alternative materials.
This estimator provides the net present value and discounted cash flows for an alternative
under consideration. Though the results only afford a preliminary estimate, they can assist in providing
an early estimate of the economic impact of alternative materials
choices. Having such an estimate in hand can help as a guide to a more
effective test program. Being meant for preliminary economic estimation only, this cost of corrosion
estimator does not address all economic issues necessary for final decision. It accounts in a broad
sense for the initial testing and installation costs; periodic or isolated maintenance, repair or
or other expenses, taxes, depreciation, and salvage recovery, if any. Provision is made for growth of
periodic costs such as maintenance, repair, corrosion monitoring, etc. over time.
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By entering this cost of corrosion estimator, the user assumes all risks associated with the
results. There are no implied guarantees or warranties on the results. Materials decisions
cannot be made solely on the results of this estimator.
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