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research article

Decision support for ranking Pareto optimal process designs under uncertain market conditions

Tock, Laurence
•
Maréchal, François
2015
Computers & Chemical Engineering

Considering the uncertainty of economic conditions, multi-objective optimisation can be favoured to single-objective optimisation for process design. However, from the Pareto sets generated by multi- objective optimisation it is not obvious to identify the best one, given that each solution is optimal with regard to the selected objectives. A method taking into account the economic parameters uncertainty to support decision making based on the Pareto-optimal solutions is proposed. It uses a Monte-Carlo simulation to define the probability of each of the Pareto optimal configuration to be in the list of the best configurations from the economical point of view. For a given economic context defined the most probable best configurations are identified. The proposed method is applied to two cases: the CO2 capture in power plants and synthetic natural gas production from biomass resources. The results allow to identify the most attractive system designs and give recommendations for the process engineers.

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Type
research article
DOI
10.1016/j.compchemeng.2015.06.009
Web of Science ID

WOS:000364166700015

Author(s)
Tock, Laurence
Maréchal, François
Date Issued

2015

Publisher

Elsevier

Published in
Computers & Chemical Engineering
Volume

83

Start page

165

End page

175

Subjects

Decision making

•

Economic conditions

•

Multi-objective optimization

•

Process design

•

CO2 capture

•

SNG production

Editorial or Peer reviewed

NON-REVIEWED

Written at

EPFL

EPFL units
SCI-STI-FM  
Available on Infoscience
July 15, 2015
Use this identifier to reference this record
https://infoscience.epfl.ch/handle/20.500.14299/116297
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