engleski

Evolutionary Design Optimization with Total Value based Excellence Criteria

Design optimization with traditional criteria results in suboptimal total lifetime performance. A method to base the GA fitness function on the aggregate lifespan-value is shown. Nonrecurring investment and recurring operational costs are discounted into a compromise function based on net present value and internal rate of return. The problem (design parametrization, constraints) is modeled in terms of design variables, fitness functions are in 'expanded space' of respective value terms accounting for: discounting, depreciation models, costs of financing, cost of engagement of resources, etc.

Design Optimization; Total Value; Evolutionary Optimization

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