Related papers: Report for the Edinburgh Tram Inquiry
For all line-based transit systems like bus, metro and tram, the routes of the lines and the frequencies at which they are operated are determining for the operational performance of the system. However, as transit line planning happens…
We present an historical overview about the connections between the analysis of risk and the control of autonomous systems. We offer two main contributions. Our first contribution is to propose three overlapping paradigms to classify the…
The successful completion of a software development process depends on the analytical capability and foresightedness of the project manager. For the project manager, the main intriguing task is to manage the risk factors as they adversely…
The estimation of risk measures recently gained a lot of attention, partly because of the backtesting issues of expected shortfall related to elicitability. In this work we shed a new and fundamental light on optimal estimation procedures…
Faced with massive data, is it possible to trade off (statistical) risk, and (computational) space and time? This challenge lies at the heart of large-scale machine learning. Using k-means clustering as a prototypical unsupervised learning…
The design and operation of protective systems is an essential engineering responsibility. Ensuring public safety, while essential, must be accomplished at a feasible cost and within government regulation. Hence, protective system design…
We propose a data-driven methodology for evaluating the impact of the introduction of a speed limit on the punctuality of bus services. In particular, we use high-frequency Automatic Vehicle Location data to parameterise a model that…
Implementing large-scale information and communication technology (IT) projects carries large risks and easily might disrupt operations, waste taxpayers' money, and create negative publicity. Because of the high risks it is important that…
This report lays flat my personal views on D-RISC and Microgrids as of March 2013. It reflects the opinions and insights that I have gained from working on this project during the period 2008-2013. This report is structed in two parts:…
Traffic management systems play a vital role in ensuring safe and efficient transportation on roads. However, the use of advanced technologies in traffic management systems has introduced new safety challenges. Therefore, it is important to…
Out-of-control information technology (IT) projects have ended the careers of top managers, such as EADS CEO Noel Forgeard and Levi Strauss' CIO David Bergen. Moreover, IT projects have brought down whole companies, like Kmart in the US and…
While the {estimation} of risk is an important question in the daily business of banking and insurance, many existing plug-in estimation procedures suffer from an unnecessary bias. This often leads to the underestimation of risk and…
It has been for a long time to use big data of autonomous vehicles for perception, prediction, planning, and control of driving. Naturally, it is increasingly questioned why not using this big data for risk management and actuarial…
Human error research on overconfidence supports the benefits of early visibility of defects and disciplined development. If risk to the enterprise is to be reduced, individuals need to become aware of the reality of the quality of their…
While the estimation of risk is an important question in the daily business of banking and insurance, many existing plug-in estimation procedures suffer from an unnecessary bias. This often leads to the underestimation of risk and…
Owing to the increasing frequency and destruction of natural and manmade disasters to modern highly-populated societies, emergency management, which provides solutions to prevent or address disasters, have drawn considerable research over…
This report was originally written as an industry white paper on Hedge Funds. This paper gives an overview to Hedge Funds, with a focus on risk management issues. We define and explain the general characteristics of Hedge Funds, their main…
The purpose of the study is to propose a methodology for evaluation and ranking of risky investment projects.An investment certainty equivalence approach dual to the conventional separation of riskless and risky contributions based on cash…
Strategic behaviour is one of the main explanations for cost overruns. It can theoretically be supported by agency theory, in which strategic behaviour is the result of asymmetric information between the principal and agent. This paper…
Monitoring of project performance is a crucial task of project managers that significantly affect the project success or failure. Earned Value Management (EVM) is a well-known tool to evaluate project performance and effective technique for…