Financial optimisation of forest-level harvest scheduling in Ireland – A case study Available to Purchase

World-wide, forest managers have long recognised the benefits of using optimisation-based modelling techniques to improve decision-making. With no such systems in operation in Irish forestry, optimisation-based economic models were developed for harvest scheduling on a forest level within the context of a hierarchical approach. These new techniques were compared to those currently employed by Coillte Teoranta (the Irish Forestry Board). The development of the optimisation models involved the evaluation of: different management options strategies, optimisation techniques, model types and constraint strategies. Evaluation of the models was carried out in Clonbrock forest (294.8 ha), a typical Irish plantation forest, owned and managed by Coillte. The application of the selected model resulted in an increase in net present value (NPV) over the 5-year planning period of 14.2% compared to the NPV produced by Coillte’s current process.