When industrial laboratory experiments are done, it is important to keep in mind the objectives of the study. This is because the experiments that will be required are critically dependent on these objectives. In order to decide what these objectives are, one needs to have a rudimentary design for the process that highlights the key issues and drivers for the economics of the process. We address this by doing a case study on a Fischer-Tropsch (FT) process. A method of synthesizing an FT flow sheet incorporating syngas generation, air separation, hydrocarbon synthesis, product workup, recycling, and reforming is presented. The impact of these unit operations on the entire FT synthesis process has been studied by turning all their material, energy, and work requirements into one variable, namely carbon efficiency. Preliminary experimental data on an FT catalyst is used to demonstrate the method. From this the effect of the H-2:CO ratios, space velocities, and feed partial pressures in the FT synthesis loop on the overall plant carbon efficiency are investigated. The implication of the results on the further flow sheet development and experimental program is considered.