A Decision Support System (DSS) for Project Management in the Bio-diesel Industry

Abstract

The European biodiesel industry is currently facing several challenges affecting the profitability of investment projects in the industry. Among these challenges are higher prices for oilseeds, which are the main input for biodiesel production, lower fiscal support by national governments for biodiesel producers and high price volatility of oil markets. Thus identifying all opportunities for optimizing the value chain and lower the production cost of biodiesel is a main requirement for an efficient project management in the biodiesel industry. The paper addresses this topic by developing a decision support system tailored to the needs of Romanian investors in biodiesel production. The system optimizes the main activities of the biodiesel value chain and supports the decision making process at management level. In addition the DSS enables the user to perform sensitivity analysis based on varying various input parameter.

Keywords

• Biodiesel
• Investments
• DSS
• Optimization
• Management