The full cost of ownership consists of the initial capital, commissioning, training, spare parts, maintenance and calibration costs for the lifetime of the equipment. The full cost is several times the initial capital investment and should be the deciding factor in equipment selection. The technical selection – accuracy, repeatability, drift, ease of calibration as well as reliability indirectly affects the cost of ownership. Proper installation and application of flowmeters are two of the most significant parameters in the measurement chain. These parameters influence the factors mentioned above and are neglected in most assessments. The misapplication of any device brings the wrath of field personnel on the operating company’s engineering staff, as it should! More effort is required by the user community to match their expectations with reality. The selection, installation, operation and maintenance of quality equipment, if properly performed, are almost never discussed by operating personnel. The role of flow conditioning is to ensure that the ‘real world’ environment closely resembles the ‘laboratory’ environment for proper performance of inferential flowmeters