1. JAHANGIRABAD INSTIUTE OF TECHNOLOGY
BARABANKI
Department of Mechanical Engineering
System Evaluation
RAVI VISHWAKARMA
10/06/17 Ravi Vishwakarma ,Assistant Professor JIT 1
2. Feasibility Assessment
Before a new plant or business unit is started, a thorough going survey
should be undertaken whether the venture gives sufficient promise of
profitable returns to justify the expenditure of time, investment in its
promotion and operation.
10/06/17 Ravi Vishwakarma ,Assistant Professor JIT 2
3. Planning Horizon
Planning is necessarily connected to future. Planning horizon indicates
the time for which a plan is fixed. For example :a 5 year plan.
Planning horizon or how far the planning penetrates into the future,
depends upon scope of the problem.
10/06/17 Ravi Vishwakarma ,Assistant Professor JIT 3
4. Time Value of Money
Money is considered to have a time value because when it is borrowed
for a period of time, it is expected that the amount paid back will be
greater than that which was borrowed. The difference is referred to as
interest.
The amount of interest is determined by the length of time of the
money was borrowed and the rate of interest.
F=P(1+ni)
Where P is amount of money, i is annual interest
F is future worth.
10/06/17 Ravi Vishwakarma ,Assistant Professor JIT 4
5. Calculus Methods for Optimization
Optimization principles are of increasing importance in modern design
and system operation, engineering and other areas. The recent
development has been affected by the modern computer that can solve
large scale problems, and by corresponding creation of new
optimization techniques, so that the whole field is in process of
becoming a large area of its own.
10/06/17 Ravi Vishwakarma ,Assistant Professor JIT 5
6. Basic Problem
We first define the basic mathematical optimization problem. Suppose
that E is a scalar quantity, which represents the value of a function of n
variables …….
And which is to be minimized.it is required to find….
E=f(X)
10/06/17 Ravi Vishwakarma ,Assistant Professor JIT 6
7. Function of One Decision Variable
10/06/17 Ravi Vishwakarma ,Assistant Professor JIT 7
( ) ( ) ( ) ( ) rHigherordexxxyxxxyxyxyxy +−+−++=
2
0000
'
0
'
0 )(
2
1
'')()(
8. Constrained Optimization
Optimization problem may occur with constraints or without
constraints. The constraints may be imposed on the values of some of
the variables and these naturally restrict the region of search for the
minimum.
10/06/17 Ravi Vishwakarma ,Assistant Professor JIT 8
