Selection of Mining Machinery Based on Mechanical Delay Statistics: An Application of Goal Programming to Capital Budgeting

Robert L. Grayson; Y. J. Wang

Selection of Mining Machinery Based on Mechanical Delay Statistics: An Application of Goal Programming to Capital Budgeting

Robert L. Grayson
, Y. J. Wang

Unknown

Research output: Contribution to journal › Article › peer-review

Abstract

This paper presents an application of goal programming (GP) to major mining machinery purchases based on historical operating data on mechanical downtime and production. The gp technique, an extension of integer programming, is used to maximize an objective function comprised of deviations away from management-preferred financial goals. Different capital budgeting techniques are used to evaluate capital proposals and the results are combined and weighted in a maximization of profits.

Original language	American English
Journal	Transactions of the American Institute of Mining, Metallurgical, and Petroleum Engineers, Society
State	Published - Jan 1 1983
Externally published	Yes

ASJC Scopus Subject Areas

General Engineering

Disciplines

Mining Engineering

Cite this

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title = "Selection of Mining Machinery Based on Mechanical Delay Statistics: An Application of Goal Programming to Capital Budgeting",

abstract = " This paper presents an application of goal programming (GP) to major mining machinery purchases based on historical operating data on mechanical downtime and production. The gp technique, an extension of integer programming, is used to maximize an objective function comprised of deviations away from management-preferred financial goals. Different capital budgeting techniques are used to evaluate capital proposals and the results are combined and weighted in a maximization of profits.",

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N2 - This paper presents an application of goal programming (GP) to major mining machinery purchases based on historical operating data on mechanical downtime and production. The gp technique, an extension of integer programming, is used to maximize an objective function comprised of deviations away from management-preferred financial goals. Different capital budgeting techniques are used to evaluate capital proposals and the results are combined and weighted in a maximization of profits.

AB - This paper presents an application of goal programming (GP) to major mining machinery purchases based on historical operating data on mechanical downtime and production. The gp technique, an extension of integer programming, is used to maximize an objective function comprised of deviations away from management-preferred financial goals. Different capital budgeting techniques are used to evaluate capital proposals and the results are combined and weighted in a maximization of profits.

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UR - https://www.scopus.com/pages/publications/0019920885#tab=citedBy

M3 - Article

JO - Transactions of the American Institute of Mining, Metallurgical, and Petroleum Engineers, Society

JF - Transactions of the American Institute of Mining, Metallurgical, and Petroleum Engineers, Society

ER -

Selection of Mining Machinery Based on Mechanical Delay Statistics: An Application of Goal Programming to Capital Budgeting

Abstract

ASJC Scopus Subject Areas

Disciplines

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