A pinch analysis approach to project selection problem
Project selection is a very important decision that every firm has to take; in fact, this decision plays a major role in the prosperity of the firm. Pinch analysis, which was initially developed to conserve energy and improve energy efficiency in industrial process, is now being extended to non-conv...
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| Main Authors: | , , , , |
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| Format: | text |
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Animo Repository
2017
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| Subjects: | |
| Online Access: | https://animorepository.dlsu.edu.ph/faculty_research/3205 |
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| Institution: | De La Salle University |
| Summary: | Project selection is a very important decision that every firm has to take; in fact, this decision plays a major role in the prosperity of the firm. Pinch analysis, which was initially developed to conserve energy and improve energy efficiency in industrial process, is now being extended to non-conventional areas. In this paper, pinch analysis is applied to select multiple independent projects from a large pool of viable projects, subject to budget constraints. The underlying mathematical optimization problem is discussed and a graphical approach to obtain optimal insightful solutions is presented. Applicability of the proposed methodology is demonstrated through an illustrative example of energy conservation in the Indian cement industry. © 2017 IEEE. |
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