Publicação
Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty
| 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. |
|---|---|
| Autores principais: | Vieira, Miguel |
| Outros Autores: | Paulo, Helena; Vilard, Corentin; Pinto-Varela, Tânia; Povoa, Ana |
| Assunto: | Multipurpose batch plants Risk assessment Conditional value-at-risk Stochastic programming Augmented ε-constraint method |
| Ano: | 2018 |
| País: | Portugal |
| Tipo de documento: | artigo |
| Tipo de acesso: | acesso restrito |
| Instituição associada: | Instituto Politécnico de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório Científico do Instituto Politécnico de Lisboa |
| _version_ | 1868417595539980288 |
|---|---|
| author | Vieira, Miguel |
| author2 | Paulo, Helena Vilard, Corentin Pinto-Varela, Tânia Povoa, Ana |
| author2_role | author author author author |
| author_facet | Vieira, Miguel Paulo, Helena Vilard, Corentin Pinto-Varela, Tânia Povoa, Ana |
| author_role | author |
| contributor_name_str_mv | RCIPL |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Vieira, Miguel\"},{\"Person.name\":\"Paulo, Helena\",\"Person.identifier.orcid\":\"0000-0002-3339-2157\"},{\"Person.name\":\"Vilard, Corentin\"},{\"Person.name\":\"Pinto-Varela, Tânia\",\"Person.identifier.orcid\":\"0000-0002-4605-7083\"},{\"Person.name\":\"Povoa, Ana\",\"Person.identifier.orcid\":\"0000-0001-6594-9653\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | RCIPL |
| datacite.creators.creator.creatorName.fl_str_mv | Vieira, Miguel Paulo, Helena Vilard, Corentin Pinto-Varela, Tânia Povoa, Ana |
| datacite.date.Accepted.fl_str_mv | 2018-07-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2018-07-30T10:06:56Z |
| datacite.date.embargoed.fl_str_mv | 2018-07-30T10:06:56Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_16ec |
| datacite.subjects.subject.fl_str_mv | Multipurpose batch plants Risk assessment Conditional value-at-risk Stochastic programming Augmented ε-constraint method |
| datacite.titles.title.fl_str_mv | Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty |
| dc.contributor.none.fl_str_mv | RCIPL |
| dc.creator.none.fl_str_mv | Vieira, Miguel Paulo, Helena Vilard, Corentin Pinto-Varela, Tânia Povoa, Ana |
| dc.date.Accepted.fl_str_mv | 2018-07-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2018-07-30T10:06:56Z |
| dc.date.embargoed.fl_str_mv | 2018-07-30T10:06:56Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10400.21/8719 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | Elsevier |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_16ec |
| dc.subject.none.fl_str_mv | Multipurpose batch plants Risk assessment Conditional value-at-risk Stochastic programming Augmented ε-constraint method |
| dc.title.fl_str_mv | Risk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertainty |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_6501 |
| 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. |
| dirty | 0 |
| eu_rights_str_mv | restrictedAccess |
| format | article |
| fulltext.url.fl_str_mv | https://repositorio.ipl.pt/bitstreams/65741a6a-2e6a-4bf4-ae3a-a269419afbb6/download |
| id | ripl_4e05e2d4dd953ddb2ed9964bbdd253f7 |
| identifier.url.fl_str_mv | http://hdl.handle.net/10400.21/8719 |
| instacron_str | ipl |
| institution | Instituto Politécnico de Lisboa |
| instname_str | Instituto Politécnico de Lisboa |
| language | eng |
| network_acronym_str | ripl |
| network_name_str | Repositório Científico do Instituto Politécnico de Lisboa |
| oai_identifier_str | oai:repositorio.ipl.pt:10400.21/8719 |
| organization_str_mv | urn:organizationAcronym:ipl |
| person_str_mv | Vieira, Miguel Paulo, Helena Paulo, Helena https://www.ciencia-id.pt/D31C-64AA-638F D31C-64AA-638F http://orcid.org/0000-0002-3339-2157 0000-0002-3339-2157 Vilard, Corentin Pinto-Varela, Tânia Pinto-Varela, Tânia https://www.ciencia-id.pt/B912-986E-8DF4 B912-986E-8DF4 http://orcid.org/0000-0002-4605-7083 0000-0002-4605-7083 Povoa, Ana Povoa, Ana https://www.ciencia-id.pt/651C-2DDA-A52C 651C-2DDA-A52C http://orcid.org/0000-0001-6594-9653 0000-0001-6594-9653 |
| publishDate | 2018 |
| publisher.none.fl_str_mv | Elsevier |
| reponame_str | Repositório Científico do Instituto Politécnico de Lisboa |
| repository_id_str | urn:repositoryAcronym:ripl |
| service_str_mv | urn:repositoryAcronym:ripl |
| spelling | engElsevierpt_PTThe 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.application/pdfpt_PTRisk assessment for the design and scheduling optimization of periodic multipurpose batch plants under demand uncertaintyVieira, MiguelPersonalPaulo, HelenaDSpacehttp://dspace.org/items/66443165-694a-4815-9fff-528c2cfb80b9DSpacehttp://dspace.org/items/66443165-694a-4815-9fff-528c2cfb80b9Maria dos Santos PauloHelenaCiência IDhttps://www.ciencia-id.ptD31C-64AA-638FORCIDhttp://orcid.org0000-0002-3339-2157Vilard, CorentinPersonalPinto-Varela, TâniaDSpacehttp://dspace.org/items/7c939ac4-33cc-4cad-81a0-fa991a6d4e5bDSpacehttp://dspace.org/items/7c939ac4-33cc-4cad-81a0-fa991a6d4e5bPinto-VarelaTâniaCiência IDhttps://www.ciencia-id.ptB912-986E-8DF4ORCIDhttp://orcid.org0000-0002-4605-7083Researcher IDhttps://www.researcherid.comB-7314-2009Scopus Author IDhttps://www.scopus.com56224464900PersonalPovoa, AnaDSpacehttp://dspace.org/items/c0aa37ee-32d7-454f-984c-396c3489812fDSpacehttp://dspace.org/items/c0aa37ee-32d7-454f-984c-396c3489812fBarbosa-PovoaAnaCiência IDhttps://www.ciencia-id.pt651C-2DDA-A52CORCIDhttp://orcid.org0000-0001-6594-9653Scopus Author IDhttps://www.scopus.com6701390223HostingInstitutionOrganizationalRCIPLe-mailmailto:rcaap@sp.ipl.ptrcaap@sp.ipl.ptISSNIsPartOf1570-7946DOIIsPartOfhttps://doi.org/10.1016/B978-0-444-64235-6.50174-12018-07-30T10:06:56Z2018-072018-07-01T00:00:00ZHandlehttp://hdl.handle.net/10400.21/8719http://purl.org/coar/access_right/c_16ecrestricted accessMultipurpose batch plantsRisk assessmentConditional value-at-riskStochastic programmingAugmented ε-constraint method3057961 bytesliteraturehttp://purl.org/coar/resource_type/c_6501journal articlehttp://purl.org/coar/access_right/c_16ecapplication/pdffulltexthttps://repositorio.ipl.pt/bitstreams/65741a6a-2e6a-4bf4-ae3a-a269419afbb6/downloadComputer Aided Chemical Engineering43991996 |
| 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 |
| status | SINGLETON |
| subject.fl_str_mv | Multipurpose batch plants Risk assessment Conditional value-at-risk Stochastic programming Augmented ε-constraint method |
| title | 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_short | 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 |
| topic | Multipurpose batch plants Risk assessment Conditional value-at-risk Stochastic programming Augmented ε-constraint method |
| topic_facet | Multipurpose batch plants Risk assessment Conditional value-at-risk Stochastic programming Augmented ε-constraint method |
| url | http://hdl.handle.net/10400.21/8719 |
| visible | 1 |