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Static Hydraulic Energy Project Requirements Report (Assessment)


Abstract

Static Hydraulic Energy is a unique product that is expected to generate energy that will be sold to schools, hospitals, and other clients that may need alternative power as a supplementary to their electric power. This clean alternative energy is generated by using pressure exerted by static objects (cars) to develop the energy that is then stored in large batteries. If commercialized, this product can have impressive rates of returns to the sponsors.

Product Identification

Static Hydraulic Energy is a new concept that seeks to reduce the current overreliance on fossil fuel to generate energy. This product will harness energy from vehicles that are static for use in other areas. In this project, the aim is to devise a system that can transfer fluid through a hydraulic motor which can then engage an electronic motor via a pulley system. The system will have a bladder filled with fluid which will be built underneath the roads.

When vehicles come to a halt on top of these bladders, they will exert pressure that that will then engage the hydraulic motors. This will generate energy that shall be tapped and stored in large batteries. The generated energy can be used in schools, hospitals, or any other institution based on the amount of power generated. This concept will help in reducing overreliance on fossil fuels which are harmful to the environment. Energy generated will be friendly to the environment. It will require little training among users and the energy output will largely depend on the number and size of bladders and hydraulics used.

Key Product Deadlines

Setting a clear timeline for this project is very important. If the project will be approved, then it should take the shortest time possible to avoid interfering with the general public. The Gantt chart below shows the proposed timeline for each activity in this project.

Timeline of the project.
Figure 1: Timeline of the project.

As shown in the figure above, setting up the entire system and connecting it to the grid will take the longest time. Assembling of the needed equipment and testing the system will take one week each. Commercialization may take more than a week based on the ability of the marketing teams to reach targeted customers with the product. It is important to note that the timeline has been given in terms of the duration each activity will take other than giving specific dates.

Physical Description

It is already common knowledge that static objects exert some amount of pressure at their base due to gravitational force. It is also known that pressure is a form of energy that is useful in various industrial contexts. Lester (2013) notes that energy can never be destroyed but only transferred from one state to another. These are some of the known scientific facts upon which this project will be based. The physical dimensions of the product will include the bladders of varying sizes, the hydraulics, copper wires to transfer electric energy, and batteries meant for energy storage.

Financial Requirements

This project is financially viable if implemented properly. It can be one of the safest sources of clean renewable energy. The main assumption in the development of this product is that the targeted clients are currently relying on expensive fossil fuel which is known to pollute the environment. The corporate criteria on the profitability of the project will be based on the current expenses that the firm currently incur to supplement its electric power using fossil fuel.

The targeted clients can either fund the project fully and own it after its completion or buy the energy from the sponsor. As Curran (2015) says, it will be cheaper if the target clients sponsor the project. Issues of retail price and discounts will be eliminated. However, given the high initial costs of the project, the clients may opt to buy this energy from the producers. Given that this is a renewable energy that is generated cheaply from static objects, the pricing will be lower than the cost of fossil fuel in the market. To the investors, the financial performance of this project is expected to be impressive.

The rate of return on investment will be high because once the system is installed operation costs will be very low. The only concern for the owners will be the cost of wear and tear, labor, and miscellaneous expenses. However, the level of capital investment required is high. Purchasing the right bladders that can withstand the expected pressure, hydraulics to generate power, and cost of other components of the system may exceed $ 1.5 million.

Life Cycle Targets

This product must be competitive in the market to attract investors. The target for the performance of the system once it is installed is five years. According to Gavasci and Zandaryaa (2013), a project can only be viable if the useful shelf life is long enough to generate income for which it was developed. When the right materials are used, this is a reasonable timeframe within which the project is expected to last. It is necessary to note that given the concept used in this project, it is not based on recycling principles that are currently in use (Muckstadt & Sapra, 2010). The installation of this system will be labor-intensive.

It will need over six engineers, twenty technicians, and about fifty casual laborers. Maintenance will be done by two engineers and four technicians after every four months. Based on the quality of critical parts of the system used, this product reliability can be set at 98%. It is important to note that 90% of the system’s components can be recycled as part of the end-of-life strategy.

Market Identification

The target clients for this product include schools, hospitals, government offices, homes, and any other institution that may need power backup. As Kendrick (2014) notes, many institutions currently rely on fossil fuel to supplement their electric power. This product will target these clients with a cleaner alternative source of energy. The anticipated market demand is estimated to be over 4000 MW.

This product will meet competition from solar power producers, biomass energy producers, and other renewable energy sources. However, this product will manage the existing competition by being considered as a supplementary product other than a competing product. This unique relationship will lower stiff market competition (Collier & Evans, 2012). The firm will develop its unique logo and brand name as part of the marketing strategy.

Social, Political, and Legal Requirements

To develop this product, it will be necessary to observe socio-political requirements such as the creation of employment to the youth as part of an economic stimulus to the economy. Legally, this project must follow regulatory procedures that govern the production of energy in the country. The entire process of setting up the plant and operational strategies should not interfere with the public.

Manufacturing Specifications

Manufacturing specifications will largely depend on the expected demand for the product. Based on the original design, the measurement of the individual bladder will be 2.5 meters in length, 1.5 meters in width, and 0.5 meters in height giving a volume of 1.875 meters cube. Each complete bladder system is expected to generate more than 7 million kWh in a year.

References

Collier, D. A., & Evans, J. R. (2012). Operation Management. Mason: South-Western.

Curran, R. (2015). Transdisciplinary lifecycle analysis of systems: Proceedings of the 22nd ISPE Inc. International Conference on Concurrent Engineering. Amsterdam: IOS Press.

Gavasci, R., & Zandaryaa, S. (2013). Environmental Engineering and Renewable Energy. New York: Elsevier.

Kendrick, T. (2014). 101 project management problems and how to solve them: Practical advice for handling real-world project challenges. New York: AMACOM, American Management Association.

Lester, A. (2013). Project Management: Managing Engineering, Construction and Manufacturing Projects to PMI, APM and BSI Standards. Oxford: Butterworth-Heinemann.

Muckstadt, J. A., &Sapra, A. (2010). Principles of inventory management: When you are down to four, order more. New York: Springer.

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IvyPanda. 2020. "Static Hydraulic Energy Project Requirements." August 11, 2020. https://ivypanda.com/essays/static-hydraulic-energy-project-requirements/.

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IvyPanda. (2020) 'Static Hydraulic Energy Project Requirements'. 11 August.

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