Circular performance of project equipment

Circular performance of project equipment: The material circularity and economic value of project equipment on a project, product, and company level

Rodermond, Timo (TU Delft Mechanical, Maritime and Materials Engineering; TU Delft Marine and Transport Technology)

Pruyn, J.F.J. (mentor)
Kana, A.A. (mentor)

Delft University of Technology

Marine Technology | Maritime Operations and Management

2024-01-23

The global awareness of the environmental and economic advantages of the circular economy (CE) concept has grown significantly. In order to implement this concept into company practices, a vital starting point is the adoption of a measurement framework. In the past years, the evolution of CE metrics resulted in maturity and practical applicability. However, no method exists able to quantify CE performance specific to a project-based organization. The Material Circularity Indicator (MCI) is one of the most ambiguous methods, which captures circularity with mass as the measurement unit. Alternatively, the Material Circularity Indicator based on economic value (MCI’) is developed as a solution for the reliance of the MCI on mass flow, by using cost-based economic value as the measurement unit. However, existing economic value indicators — as accounts for the MCI’ — are criticized for not including all significant and relevant life cycle cost factors. To solve these implications, both methods are adapted to indicate the CE performance on the levels of interest for a project-based organization: the project, product, and company level. To work from level to level, a bottom-up approach is taken, aggregating using a weighted sum. Additionally, the MCI’ is enhanced by including more life cycle cost factors. The results show that the enhanced MCI’ gives a more accurate estimate of cost-based economic value. Furthermore, the aggregation from the project level to the product and company level, gives valuable insights into the CE performance of project-based organizations.

circular economy
Circularity
Circularity assessment
Material Circularity
Material Circularity Indicator
Economic valuation
sustainability
Project-based organizations
Equipment

http://resolver.tudelft.nl/uuid:fa4f7239-d829-41aa-8cd4-f92c1a874a5e

Student theses

master thesis

© 2024 Timo Rodermond