Cost Analysis
 Senior Design Spring 2004

Stevens Institute of Technology

Mechanical and Biomedical Engineering Departments

 

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Weight and cost estimate for fabrication

        The total weight and cost estimate was calculated by dividing the total volume of the titanium rod given the project budget by its cost. The volume and mass were determined for the individual parts and totaled, and to determine the unit costs, the price per volume of titanium which was obtained above, was multiplied by the volume of each component. Fabrication costs were also taken into account. The estimated total cost of the fabrication of one unit was estimated to be about $6.90, and the unit’s total weight is 0.32 g.

Part

Mass (g)

Volume (mm3)

Price / Unit ($)

Fabrication Cost ($)

Total Costs ($)

Rod

.18

182.14

0.51

1.00

1.51

Bottom Plate (x2)

0.1

102.54

0.28

2.00

2.28

Nut

.01

13.58

0.04

1.00

1.04

Top Plate

.06

55.60

0.15

1.00

1.15

Wedge

.02

21.54

0.06

1.00

1.06

Totals

0.32

388.98

0.90

6.00

6.90

Weight and cost estimate for prototype

        To minimize costs, a scaled model was made of aluminum at a cost of $.0002/mm3.  Costs are as follows:

Part

Volume (mm3)

Price / Unit ($)

Fabrication Cost ($)

Total Costs ($)

Rod

1457.12

.29

1.00

1.29

Bottom Plate (x2)

820.32

.16

2.00

2.16

Nut

108.64

0.02

1.00

1.02

Top Plate

444.80

0.09

1.00

1.09

Wedge

172.32

0.03

1.00

1.03

Totals

3111.84

0.59

6.00

6.59

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Last modified: 05/02/04