Reference no: EM132177426
1. (a)
Many business and economic situations are concerned with problem of planning, modeling and optimization. There are many techniques of operation research available for determining an optimum solution of interdependent activities in view of available resources. In context of Process Plant Optimization, conduct a research and explain the approaches and application of following topics with suitable examples
i) Linear & Quadratic Optimization
ii) Nonlinear optimization
iii) Integer optimization
iv) Parametric Optimization
v) Optimization of Batch systems
1. (b)
Choose a chemical/petrochemical industry in Oman, manufacturing various chemical (petrochemical) products ( 2 or 3) which are sold to other manufacturers of commercial product . On the basis of the next year demand, evaluate the total production requirement of chemicals and the customer orders. Considering the processing time and production cost of chemicals, the company may wishes to determine its optimum product wise and the total minimum cost using Liner Programming. Develop a mathematical formulation of the problem using real data and find out an optimal solution.
2. (a)
Network analysis is a most popular technique used for planning, scheduling, monitoring and coordinating large and complex projects. Explain various methods of network analysis applicable under both situation of certainties and uncertainties for minimizing the resources with suitable examples.
2. (b)
Following table give the list of various activities involved in the launch of a new product service by a process company, their immediate predecessors and their expected durations (in days)
|
Activity
|
Description of activity
|
Immediate Predecessors
|
Expected Durations (in days)
t0 tm tp
|
|
A
|
Conduct Market Research to determine
size, potential &completion in the market
|
-
|
10
|
12
|
14
|
|
B
|
Define Marketing Strategy in terms of
positioning &product features
|
A
|
14
|
15
|
17
|
|
C
|
Estimate expected volumes
|
B
|
2
|
3
|
4
|
|
D
|
Estimate additional manpower required
|
C
|
4
|
6
|
8
|
|
E
|
Identify modification required to the present computer system based on
expected volume
|
C
|
10
|
12
|
14
|
|
F
|
Implement computer system modification
|
E
|
20
|
25
|
27
|
|
G
|
Update physical facilities
|
C
|
10
|
17
|
20
|
|
H
|
Prepare instruction manuals for modified
system
|
F
|
5
|
6
|
7
|
|
I
|
Hire additional Sales Force &operation
staff
|
D
|
7
|
12
|
14
|
|
J
|
Train sale force &operations staff
|
H.I
|
14
|
17
|
20
|
|
K
|
Advertise for suppliers
|
C
|
1
|
2
|
3
|
|
L
|
Check supplier samples
|
K
|
10
|
15
|
20
|
|
M
|
Identify key suppliers and define quality
standards
|
L
|
3
|
5
|
7
|
|
N
|
Roll-out basic product to a few employees
as a method of pretesting
|
M,J
|
13
|
15
|
17
|
|
O
|
Generate and assess feedback
|
N
|
20
|
21
|
22
|
|
P
|
Modify & make changes wherever
necessary
|
O
|
7
|
9
|
14
|
|
Q
|
Update procedures manual
|
P
|
2
|
3
|
4
|
|
R
|
Re-train concerned staff
|
Q
|
2
|
2
|
2
|
|
S
|
Design communications to prospective
and holders
|
P
|
7
|
10
|
13
|
|
T
|
Design advertising schedule
|
S
|
5
|
7
|
9
|
|
U
|
Roll out final product - LAUNCH
|
T,R,G
|
4
|
8
|
12
|
Determine the probability of completing the project in 160 days
3. (a)
Probabilistic analysis is used for evaluating profitability and risk of large projects. Explain at least one methods of probabilistic technique for evaluation of risk in evaluating profitability , giving their advantages and disadvantages
3 (b)
Assume that you are made responsible to a new project which require to procure ,install and commission a feed water pump for a desalination plant in Oman which require to supply about 12000 m3/day . Investigate a typical choice from at least 3 alternatives of feed water pumps of well-known manufacturers with almost same capacity rating and technical specification , taking into consideration of their initial cost, operating cost and expected life. Assume a discount rate of 10%.
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