Multi-objective Approach to Project Selection of Indian Coal Mines: A Case Study

  • S. K. Barik Department of Mathematics, Shree Jagannath Mahavidylaya, Naugaonhat, Jagatsinghpur-754 113, Odisha, India.
  • D. Chakravarty Department of Mining Engineering Indian Institute of Technology Kharagpur - 721 302, India
Keywords: Project Selection, Multi-objective Linear Programming, Fuzzy Programming Approach, Chance-constrained Programming, Linear Membership Function

Abstract

Project selection problem is an unceasing problem, which every organization face. In fact, it plays a key role in prosperity of the company. In this paper, a multi-objective mathematical programming model has been formulated for the project selection of an Indian Coal Mining Company, with a proposed name as the Indian Coal Mines Limited (ICML). To solve the proposed model, fuzzy programming approach with linear membership function is used to find the best compromise solution among the different project proposals. A case study from Indian Coal Mines is considered with demand of coal as normal random variable with known mean and variance.

Published
2023-10-24
How to Cite
Barik, S. K., & Chakravarty, D. (2023). Multi-objective Approach to Project Selection of Indian Coal Mines: A Case Study. International Journal of Mathematical Sciences and Optimization: Theory and Applications, 9(2), 1 - 12. Retrieved from http://ijmso.unilag.edu.ng/article/view/1955
Issue
Vol 9 No 2 (2023)
Section
Articles

Copyright (c) 2023 S. K. Barik, D. Chakravarty

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This work is licensed under a Creative Commons Attribution 4.0 International License.

This is an Open Access article distributed under the terms of the Creative Commons Attribution 4.0 International License, which permits unrestricted use, distribution, adaptation, and reproduction in any medium, provided that the original work is properly cited.