Why was "Economic Analysis Made Easy" written in the first place? It was simply because a lot of people and/or companies were publishing and/or doing things that the author knew were illogical, incorrect, misleading or confusing.
These things include (1) using an excessive level of detail not warranted by uncertain future product prices and feed and energy costs resulting from swings in supply/demand balances, (2) using inappropriate measures of economic performance, (3) incorrectly using accounting principles (non-cash flow, sunk costs, etc) rather than economic analysis principles, (4) not properly accounting for risks, (5) not accounting for intangible (environmental, safety, etc) costs (which have a way of eventually become realized) and (6) incorrectly screening R&D and technology development projects.
The author used internal rate of return software that he developed in Excel to run comparisons for gauging the relative importance of the various parameters in economic analysis. These comparisons (which are included in the book) show which parameters can typically be ignored to simplify economic analysis and illustrate various strategies that can be used to improve profitability and/or reduce risks.
This internal rate of return software is available for license at a cost from the author.
Other software developed by the author in Excel may become available for license if some Copyright issues can be favorably resolved. These include equipment efficiency estimation software and software to estimate capital and operating cost. Author would also like About the Author to read as follows:
Samuel Woinsky has 50 years experience in the process industries, working for both operating companies (Occidental Petroleum, Atlantic Richfield) and engineering firms (Bechtel, M. W. Kellogg, KTI, Braun) in R&D, technology development, commercialization and process engineering. As part of his work at these firms and in his consulting, he has done many technical/economic feasibility analyses and published and/or presented papers on the subject.
When Armand Hammer was at the helm at Occidental Petroleum in the 1970s, part of the authors job was to very quickly screen between good and bad ideas coming into Occidental from the outside. Many times, the outside inventor's own numbers showed that his idea wasn't economically viable.
Economic analysis has become one of the author's pet subjects, and his work experience plus having both chemical engineering and business degrees has given him a unique perspective.