LQG benchmarking for economic control performance

Economic performance assessment of process control system has been a great interest to control engineers and academic researchers. In this paper, a novel approach for economic performance assessment of the constrained process control is presented. The method builds on steady-state economic optimization techniques and uses the LQG benchmark other than conventional minimum variance control (MVC) to estimate potential of reduction in variance. Combining the LQG benchmark directly with benefit potential of process control, both the economic benefit and the optimal operation condition can be obtained by solving the economic optimization problem. The proposed method is also illustrated by simulated examples where the economic potential due to improved process control is illustrated.