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Assessment of the economic efficiency of the modernization of crushed stone manufacturing process: case study

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Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
The aim of the paper is to evaluate the economic efficiency of the proposed modernization of the production process of crushed stone in the quarry and to decide whether to accept it or reject it. The project is assessed in a complex way. Profitability is evaluated using Net Present Value (NPV) and Profitability Index (PI), liquidity by means of Discounted Payback Period (DPP). The risk associated with the respective investment is assessed using a probabilistic method - Monte Carlo simulation.
Twórcy
  • Technical University of Kosice, Faculty of Mechanical Engineering, Letná 9, Košice, Slovakia
  • Technical University of Kosice, Faculty of Mining, Ecology, Process Control and Geotechnology, Letná 9, Košice, Slovakia
  • Technical University of Kosice, Faculty of Mechanical Engineering, Letná 9, Košice, Slovakia
Bibliografia
  • 1. Sabadka, D., Molnar, V., Fedorko, G. and Jachowicz, T. Optimization of Production Processes Using the Yamazumi Method. Advances in Science and Technology Research Journal 11(4), 2017, 175–182.
  • 2. Levitin, G. and Lisnianski, A. Optimal multistage modernization of power system subject to reliability and capacity requirements. Electric Power Systems Research 50(3), 1999, 183–190.
  • 3. Rusiński E., Cegiel L., Michalczyk A., Moczkoa P., Olejarz J. and Pietrusiak D. Investigation and modernization of buckets of surface mining machines. Engineering Structures 90, 2015, 29–37.
  • 4. Maksimov S., Bashkova J. and Maksimova A. Modernization of Technology and Equipment for Glass Fiber Reinforced Plastic Rebar Production. Procedia Engineering 206, 2017, 1337–1341.
  • 5. Kushnarev A.V., Kirichkov A.A., Bogatov A.A. and Puzyrev S.S. Modernization of Railroad Wheel Manufacturing Technology at Evraz Ntmk. Metallurgist 60(9-10), 2017, 1080–1086.
  • 6. Orumbayev R., Kibarin A., Khodanova T. and Korobkov M. Economical and ecological assessment of hot-water boilers substitution or modernization within district heat supply systems across the Republic of Kazakhstan. Energy Procedia 141, 2017, 304–309.
  • 7. Antonyan O., Karpushko E. and Solovyeva A. Problems of modernization and technical re-equipment of Russian machine-building enterprises. MATEC Web of Conferences 2017, 129, 1022.
  • 8. Freiberg F. and Scholz P. Evaluation of Investment in Modern Manufacturing Equipment Using Discrete Event Simulation. Procedia Economics and Finance 34, 2015, 217–224.
  • 9. Kurihara K. and Nishiuchi N. Efficient Monte Carlo simulation method of GERT-type network for project management. Computers & Industrial Engineering 42(2), 2002, 521–531.
  • 10. Zhu L. A simulation based real options approach for the investment evaluation of nuclear power. omputers and Industrial Engineering 63(3), 2012, 585–593.
  • 11. Makara A., Smol M., Kulczycka J. and Kowalski Z. Technological, environmental and economic as-sessment of sodium tripolyphosphate production – a case study. Journal of Cleaner Production 133, 2016, 243–251.
  • 12. Hildebrandt P. and Knoke T. Investment decisions under uncertainty—A methodological review on forest science studies. Forest Policy and Economics 13(1), 2011, 1–15.
  • 13. Aven T. Risk assessment and risk management: Review of recent advances on their foundation. European Journal of Operational Research 253(1), 2016, 1–13.
  • 14. Williams N. J., Jaramillo P. and Taneja J. An investment risk assessment of microgrid utilities for rural electrification using the stochastic techno-economic microgrid model: A case study in Rwanda. Energy for Sustainable Development, 42, 2018, 87–96.
  • 15. Bendravičienė R. and Romaniuk N. Economic Justification of the Investment Project of Constructing Objects of Mining and Processing Enterprise. Advanced Engineering Forum 22, 2017, 135–142.
  • 16. Todorović M.L., Petrović D.Č., Mihić, M.M., Obradović, V.L. and Bushuyev, S.D. Project success analysis framework: A knowledge-based approach in project management. International Journal of Project Management 33(4), 2015, 772–783.
  • 17. Rukijkanpanich, J. and Pasuk, P. Maintenance management for transportation process in quarry industry. Journal of Quality in Maintenance Engineering (accepted manuscript), 2017.
  • 18. Fedorko G. and Molnar V. Design of a calculation FEM model of the test static stand of pipe conveyor for analysis of contact forces.Advances in Science and Technology Research Journal 11(2), 2017, 220–225.
Uwagi
Opracowanie rekordu w ramach umowy 509/P-DUN/2018 ze środków MNiSW przeznaczonych na działalność upowszechniającą naukę (2018).
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-a487e139-14eb-4717-88c1-4f7f56a6eb8f
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