Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty

Detalhes bibliográficos
Autor(a) principal: Vieira, Miguel
Data de Publicação: 2018
Outros Autores: Paulo, Helena, Vilard, Corentin, Pinto-Varela, Tânia, Povoa, Ana
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.21/8719
Resumo: The aim of the present work is to provide an integrated decision support approach for the design and scheduling of multipurpose batch plants under demand uncertainty allowing the assessment of alternative risk profile solutions. Based on two-stage mixed integer linear programming (MILP) model, the goal is to maximize the annualized profit of the plant operation under a set of scenarios while minimizing the associated financial risk, evaluated by the Conditional Value at Risk (CVaR) using the augmented ε-constraint method. Considering a literature example, the conclusions highlight the advantages of the proposed approach for the decision-support in industrial plant design and scheduling solutions by considering the explicit risk measure assessment towards expected financial outcomes.
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spelling Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertaintyMultipurpose batch plantsRisk assessmentConditional value-at-riskStochastic programmingAugmented ε-constraint methodThe aim of the present work is to provide an integrated decision support approach for the design and scheduling of multipurpose batch plants under demand uncertainty allowing the assessment of alternative risk profile solutions. Based on two-stage mixed integer linear programming (MILP) model, the goal is to maximize the annualized profit of the plant operation under a set of scenarios while minimizing the associated financial risk, evaluated by the Conditional Value at Risk (CVaR) using the augmented ε-constraint method. Considering a literature example, the conclusions highlight the advantages of the proposed approach for the decision-support in industrial plant design and scheduling solutions by considering the explicit risk measure assessment towards expected financial outcomes.ElsevierRCIPLVieira, MiguelPaulo, HelenaVilard, CorentinPinto-Varela, TâniaPovoa, Ana2018-07-30T10:06:56Z2018-072018-07-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.21/8719engVIERIA, Miguel; [et al] – Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty. Computer Aided Chemical Engineering. ISSN 1570-7946. Vol. 43 (2018), pp. 991-9961570-7946https://doi.org/10.1016/B978-0-444-64235-6.50174-1metadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-08-03T09:56:32Zoai:repositorio.ipl.pt:10400.21/8719Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T20:17:25.272436Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty
title Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty
spellingShingle Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty
Vieira, Miguel
Multipurpose batch plants
Risk assessment
Conditional value-at-risk
Stochastic programming
Augmented ε-constraint method
title_short Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty
title_full Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty
title_fullStr Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty
title_full_unstemmed Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty
title_sort Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty
author Vieira, Miguel
author_facet Vieira, Miguel
Paulo, Helena
Vilard, Corentin
Pinto-Varela, Tânia
Povoa, Ana
author_role author
author2 Paulo, Helena
Vilard, Corentin
Pinto-Varela, Tânia
Povoa, Ana
author2_role author
author
author
author
dc.contributor.none.fl_str_mv RCIPL
dc.contributor.author.fl_str_mv Vieira, Miguel
Paulo, Helena
Vilard, Corentin
Pinto-Varela, Tânia
Povoa, Ana
dc.subject.por.fl_str_mv Multipurpose batch plants
Risk assessment
Conditional value-at-risk
Stochastic programming
Augmented ε-constraint method
topic Multipurpose batch plants
Risk assessment
Conditional value-at-risk
Stochastic programming
Augmented ε-constraint method
description The aim of the present work is to provide an integrated decision support approach for the design and scheduling of multipurpose batch plants under demand uncertainty allowing the assessment of alternative risk profile solutions. Based on two-stage mixed integer linear programming (MILP) model, the goal is to maximize the annualized profit of the plant operation under a set of scenarios while minimizing the associated financial risk, evaluated by the Conditional Value at Risk (CVaR) using the augmented ε-constraint method. Considering a literature example, the conclusions highlight the advantages of the proposed approach for the decision-support in industrial plant design and scheduling solutions by considering the explicit risk measure assessment towards expected financial outcomes.
publishDate 2018
dc.date.none.fl_str_mv 2018-07-30T10:06:56Z
2018-07
2018-07-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.21/8719
url http://hdl.handle.net/10400.21/8719
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv VIERIA, Miguel; [et al] – Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty. Computer Aided Chemical Engineering. ISSN 1570-7946. Vol. 43 (2018), pp. 991-996
1570-7946
https://doi.org/10.1016/B978-0-444-64235-6.50174-1
dc.rights.driver.fl_str_mv metadata only access
info:eu-repo/semantics/openAccess
rights_invalid_str_mv metadata only access
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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