DocumentCode
2619687
Title
Limitations In The Use Of Mathematical Models To Support Investment Decisions
Author
Lima, Mario Jorge ; de Aquino Barbosa, G.
Author_Institution
Petrobras, Rio de Janeiro
fYear
2007
fDate
9-12 Dec. 2007
Firstpage
2382
Lastpage
2382
Abstract
Summary form only given. Decision making is a complex job, especially when it involves millions of dollars. Experience, intuition and other personal features are essential, but the support of a mathematical tool can help avoiding errors. This paper presents a summary of the experience acquired by the Petrobras refinery simulation team in using mathematical models to support investment decisions in tank farm problems. Real situations will be presented where limitations and risks came up along with recommendations to avoid similar problems in the future.
Keywords
decision making; investment; simulation; Petrobras refinery simulation team; investment decision making; mathematical models; tank farm problems; Decision making; Investments; Mathematical model;
fLanguage
English
Publisher
ieee
Conference_Titel
Simulation Conference, 2007 Winter
Conference_Location
Washington, DC
Print_ISBN
978-1-4244-1306-5
Electronic_ISBN
978-1-4244-1306-5
Type
conf
DOI
10.1109/WSC.2007.4419897
Filename
4419897
Link To Document