Productivity depending risk minimization of production activities

Kanarachou, G; Leopoulos, V

dc.contributor.author	Kanarachou, G	en
dc.contributor.author	Leopoulos, V	en
dc.date.accessioned	2014-03-01T01:54:29Z
dc.date.available	2014-03-01T01:54:29Z
dc.date.issued	2005	en
dc.identifier.issn	11092750	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/27411
dc.relation.uri	http://www.scopus.com/inward/record.url?eid=2-s2.0-20144369255&partnerID=40&md5=510bc0aaf0ff04ff9725639d573df7ba	en
dc.subject	Min-max strategy	en
dc.subject	Productivity	en
dc.subject	Risk minimization	en
dc.subject	Risk modeling	en
dc.subject.other	Computational methods	en
dc.subject.other	Computer simulation	en
dc.subject.other	Mathematical models	en
dc.subject.other	Optimization	en
dc.subject.other	Production	en
dc.subject.other	Productivity	en
dc.subject.other	Risk assessment	en
dc.subject.other	Hybrid parameter optimization	en
dc.subject.other	Min-max strategy	en
dc.subject.other	Production activities	en
dc.subject.other	Risk minimization	en
dc.subject.other	Risk modeling	en
dc.subject.other	Operations research	en
dc.title	Productivity depending risk minimization of production activities	en
heal.type	journalArticle	en
heal.publicationDate	2005	en
heal.abstract	Production activities depend on a number of important parameters, one being the personnel's productivity. This parameter affects considerably the risk (technical and/or financial risk) of the whole activity. For the computation of the risk, a simple but comprehensive computer model has been created allowing the time simulation of the production process for a number of possible expected returns (scenarios), as well as the computation of the (well known) financial indices ROI, IRR and NPV. For the risk minimization the 'min-max strategy' for determining optimal strategies has been applied. The ""min-max strategy"" guarantees a worst-case risk/return tradeoff in terms of the above financial indices, whichever of the specified scenarios occurs. The above method is described in the following and corresponding results are presented in this paper.	en
heal.journalName	WSEAS Transactions on Computers	en
dc.identifier.volume	4	en
dc.identifier.issue	1	en
dc.identifier.spage	52	en
dc.identifier.epage	57	en