Abstract:

 This paper discusses the background of engineering cost indices in the petrochemical industry, and elucidates the application value of index theory in constructing petrochemical engineering cost indices. Through a comprehensive review of domestic and international literature, the definition of index theory is clarified, and four essential elements of index compilation including representative items, formula, weights and base period are identified. The study comparatively analyzes various index compilation methodologies, including simple index method, aggregate index method, and Fisher index method. Ultimately, the optimal compilation approaches applicable to different categories of petrochemical engineering cost indices are proposed.

Key words: index, petrochemical project, engineering cost