Planning under uncertainty

Cheng L, Subrahmanian E, Westerberg AW (2003) Design and planning under uncertainty issues on problem formulation and solution. Computers Chemical Engineering 27 (6) 781-801... 

Liu, M.L. and Sahinidis, N.V. (1996) Optimization in process planning under uncertainty. Industrial el Engineering Chemistry Research, 35, 4154. 

Planning Under Uncertainty for a Single Refinery Plant... 

Chemical process systems are subject to uncertainties due to many random events such as raw material variations, demand fluctuations, equipment failures, and so on. In this chapter we will utilize stochastic programming (SP) methods to deal with these uncertainties that are typically employed in computational finance applications. These methods have been very useful in screening alternatives on the basis of the expected value of economic criteria as well as the economic and operational risks involved. Several approaches have been reported in the literature addressing the problem of production planning under uncertainty. Extensive reviews surveying various issues in this area can be found in Applequist et al. (1997), Shah (1998), Cheng, Subrahmanian, and Westerberg (2005) and Mendez et al. (2006). 

Barbara, A. and Bagajewicz, M.J. (2004) Managing operational risk in planning under uncertainty. AIChE Journal, 50, 963. 

The remainder of this Chapter is organized as follows. In Section 8.2 we will discuss model formulation for petrochemical network planning under uncertainty and with uncertainty and risk consideration, referred to as robust optimization. Then we will briefly explain the concept of value of information and stochastic solution, in Section 8.3. In Section 8.4, we will illustrate the performance of the model through an industrial case study. The chapter ends with concluding remarks in Section 8.5. 

Ahmed S, Sahinidis NV (1998) Robust Process Planning under Uncertainty. Industrial Engineering Chemistry Research 37 1883-1892... 

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