Net Value Analysis

See slides

determine which options has most positive net value for the lab

$${\text{Net value}}_{\text{Lab}}={\text{Benefits}}_{\text{Lab}}-{\text{Cost}}_{\text{Lab}}$$

Simulation: gold nanoparticles

$$\begin{array}{rl}N{V}_P\text{(relative to purchasing)}& =N{V}_P-N{V}_P=0\\ N{V}_F\text{(relative to purchasing)}& =N{V}_F-N{V}_P=C_P-C_F\\ N{V}_{nR}\text{(relative to purchasing)}& =N{V}_{nR}-N{V}_P=C_P-C_{nR}\\ & \end{array}$$

relative to purchasing

$$NV=\$896{\text{week}}^{-1}-\left(\frac{\$5}{100\text{mL}}{q}_{\text{ingred}}+\frac{\$12.5}{\text{hr}}{t}_{\text{FumeHood}}+\frac{\$100}{\text{hr}}{t}_{\text{SEM}}+\frac{\$15}{\text{hr}}{t}_{\text{GradStudent}}+C_{\text{other}}\right)$$