ResOpt, decision support maximizing Return On Investment
The best allocation of resources depends on the nature of the resources, constraints, and objectives. Decision support for multi-year planning differs from real-time operations. Decision-makers want to make the best possible choice. They need more than a simulation tool that evaluates user-defined multiple choices, and blind to biases and oversight of all available information.
As the number of cost, environmental and social constraints on operations increase with population sizes, effective management of interconnected water-energy systems demand dependable capacity.
ResOpt is a data modeling tool that takes into account both technical and economic aspects of complex systems to identify the single highest possible means of efficiency at the lowest cost.
This control systems technology integrates powerful validation, estimation and editing (VEE) tools; production cost modeling; and deterministic optimization capabilities.* After users develop their model system with the drag and drop interface, they soon capitalize on the following benefits:
- a processing time of minutes to a few hours
depending on the complexity of the model and its constraints
- identification of options of which they were unaware or had overlooked
- reporting and presentation capabilities to share results with stakeholders
This niche fits KISTERS excellently: hydropower operations, short-term optimization, and mathematical modeling -- CEATI International hydropower conference speaker
* Stochastic optimization is also possible.
Note: The stochastic preference requires a longer processing time since it accounts for some inherent randomness and results in an ensemble of different outputs. On the other hand, deterministic models yield limited output because the model is fully determined by the parameter values and the initial conditions.
Visit the ResOpt Applications page to discover how this KISTERS' solution is being implemented in North America.