Economics (CMC), Engineering (HMC)
Engineers must often make a quick "ballpark" cost estimate of a new plant, facility, or piece of equipment before the detailed design phase. One easy way to obtain such an estimate is to base the cost on a known cost for a similar plant, facility, or piece of equipment by using the ratio of the capacities or sizes of the known and proposed item raised to an exponent R. This predesign cost-estimating approach is especially useful for doing sensitivity analyses and feasibility studies for which a high degree of accuracy is not required. This cost-capacity or power-factor model was first developed by Williams in 1947 for equipment costs  and by Chilton in 1950 for plant costs . In this article, we present scale-up factors for estimating the costs of terminal expansions to existing airports in the United States and the costs of constructing new international airports.
© 1996 AACE International
Remer, D.S. and Wong, C, "Cost Scale-Up Factors for Airport Construction," Cost Engineering, 38, 2, 24(1996).