Author: Anne Disabato, Tim Hanrahan, Brian Merkle
Steward: David Chen, Fengqi You
Date Presented: February 23, 2014
Introduction
Optimization and sensitivity analysis are key aspects of successful process design. Optimizing a process maximizes project value and plant performance, minimizes project cost, and facilitates the selection of the best components [1].
Design Optimization
Defining the Optimization Problem and Objective Function
Trade-Offs
Parametric Optimization
Sub-optimizations
Optimization of a Single Decision Variable
Search Methods
Unrestricted Search
Three-Point Interval Search
Golden-Section Search
Quasi-Newton Method
Optimization of Two or More Decision Variables
Optimization in Industrial Practice
Optimization in Process Design
Sensitivity Analysis
Parameters to Study
Statistical Methods of Risk Analysis
Contingency Costs