VSE knjižnice (vzajemna bibliografsko-kataložna baza podatkov COBIB.SI)
  • The effect of economic objective function on economic, operational and environmental performance of optimal chemical processes
    Kasaš, Mihael ; Kravanja, Zdravko ; Novak-Pintarič, Zorka
    In this work, three of the more used economic criteria were applied in the economic objective function when synthesizing chemical processes using mathematical programming approach: the profit before ... taxes (PB), the net present value (NPV), and the internal rate of return (IRR). The effects on the economic, operational, and environmental performances of optimal process flow sheets were studied since different criteria, in general, produce different optimal solutions. Mixed integer nonlinear programming (MINLP) syntheses of three processes, methanol, dimethyl ether and HDA were performed as case-studies together with simultaneous heat integration. It was observed that optimal process flow sheets obtained by three distinct criteria differ not only in process topology and capacities but also in operating and economic figures, efficiency of feed and utility utilization, as well as the sustainability measurements, e.g. toxicological and ecological indices, and total potential environmental impact of the process. In particular, it was shown that the main cause of these differences is the shape of the cash flow function vs. investment level, which is strongly dependent on the level of details incorporated in the mathematical model. Only those models with sufficient trade-offs between investment and cash flow generate proper optimal solutions with the correct economic criterion. The consequences of decision-making based on wrong optimization criteria are discussed.
    Vir: PRES 2010 (Part 2, str. 1435-1440)
    Vrsta gradiva - prispevek na konferenci
    Leto - 2010
    Jezik - angleški
    COBISS.SI-ID - 14360854
    DOI

vir: PRES 2010 (Part 2, str. 1435-1440)
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