Objective investment costs

The objective function is to maximize profits, namely, products sold minus raw material costs. No capital or investment cost are involved in this example. 

Modify the objective function to simulate a larger importance of investment costs by introducing an exponent for PROD larger than 1. How does the value of the exponent influence the value of the objective function OBJ How is the time of the maximum of the objective function changed ... 

Objective function a profit maximization function over the time horizon is considered as the difference between the revenue due to product sales and the overall costs, with the latter consisting of the cost of raw materials, operating cost, investment cost, and inventory cost ... 

The objective function represents the total annual cost which consists of (i) the investment cost for the distillation columns and heat exchangers and (ii) the operating cost for the hot and cold utilities. 

The objective function represents the total annual cost and takes into account the investment cost of each column and its associated exchangers as well as the operating cost, and it is derived using the approach presented in Aggarwal and Floudas (1990). It is of the following form ... 

Major, D.C., "Benefit-Cost Ratios for Projects in Multiple Objectives Investment Programs" Water Resources Research 1969, 5., 1174. 

Efficient use of both energy and resource in an evaporation system was studied based on multi-objective analysis. The exergy consumption and the total investment cost were used to measure energy and resource conservation, respectively. The trade-off curve between the two objectives shows the change in the optimal solution as the unit cost of exergy is changed. 

When a process system is designed, both the total dissipation of exergy and the total investment cost are considered as the objective functions to be minimized. Consideration of two criteria naturally gives rise to a two-objective optimization problem. 

Energy and resource conservation in the process design was evaluated based on the exergy consumption and the total investment cost, respectively. The conflict between the two objectives is obtained by solving the two-objective optimization problem. The e-constraint scalar optimization problem was solved by means of the max-sensitive method because it generates the profile of the trade-off ratio as well as the trade-off curve. 

A rigorous performance analysis is the key to a meaningful feasibility study. Performance analysis is essential in estimating system the costs. The design of industrial units, or more accurately, the prediction of industrial plant performance was the primary objective of the cunent work. Both the operating and investment costs, key elements in feasibility studies, were determined on the basis of mass and energy balances. 

The selectivity, which strongly influences the number of separation stages, together with the capacity of the solvent, strongly influences the investment cost of a separation process. The objective is to find entrainers with a high selectivity and a sufficient edacity but unfortunately, in most cases, an increase in selectivity is linked to a decrease in capacity. The very low capacity of water, for example, is the reason that in spite of its high selectivity, it is not used for the separation of aliphatics from aromatics. 

A two stage process approach at moderate pressure has the advantage to combine the deep HDS and aromatics saturation and, therefore, to meet the process objectives with minimum investment cost. 

Since the ultimate objective of environmental performance improvement is to invest more in improvement, the steady-state feature of LCI can cause problems. For gate-to-gate analysis, such as a direct comparison between two manufacturing processes where the time dimension is minimal, one can make a direct environmental benelit comparison and divide by the investment cost for each alternative to derive a benefit to cost ratio. The prudent investor would gain more environmental benefit by investing where the ratio of benefit to cost is highest. 

At this level of aggregation, multiple objectives are typically pursued. Beside the operational costs of a certain network configuration, e.g. investment costs to realize such a configuration as well as robustness aspects and service measures come into scope. Thus, tactical/strategical decision support tools have to provide... 

Through the changes in the decision variables, the value of the objective function C/>,<, is reduced from 4587/h to 3913/h, and the cost rate associated with the exergy loss C5 decreased from 499/h to 446/h. The new values of the thermoeconomic variables are summarized in Table VII. The sum Z + Cd shows that the air compressor and the gas turbine expander are still the most important components from the thermoeconomic viewpoint. The importance of both components is due to the relatively high investment cost rate and, to a lesser extent, to the high fuel cost Cf for these components. The... 

Up to now we have described how to define evaluation grades for the three criteria considered for the analysis of the three maintenance strategies. In addition to this, rules have to be defined in IDS, to show how each criterion grade may contribute to the overall objective - the potential for risk reduction- based on which the alternatives will be ranked. For example, an investment cost of 0 NOK is likely to induce higher risk exposure while and investment cost of 52 000 is likely to contribute to a lower risk exposure. 

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