This document describes a project to optimize the performance of a steam turbine power plant using the Rankine cycle. Five different Rankine cycles are analyzed: 1) the ideal Rankine cycle, 2) the ideal Rankine cycle with reheat, 3) the ideal Rankine cycle with one open feedwater heater, 4) with two open feedwater heaters, and 5) with four open feedwater heaters. Sample calculations are shown for each cycle configuration to determine the thermal efficiency. The document also discusses cost effectiveness calculations to determine the most optimal design for the steam turbine.