Related papers: Reverse Stress Testing for Supply Chain Resilience
The practice of continuous deployment has enabled companies to reduce time-to-market by increasing the rate at which software can be deployed. However, deploying more frequently bears the risk that occasionally defective changes are…
Self-adaptive systems are expected to mitigate disruptions by continually adjusting their configuration and behaviour. This mitigation is often reactive. Typically, environmental or internal changes trigger a system response only after a…
Retransmissions represent a primary failure recovery mechanism on all layers of communication network architecture. Similarly, fair sharing, e.g. processor sharing (PS), is a widely accepted approach to resource allocation among multiple…
Resiliency has garnered attention in the management of critical infrastructure as a metric of system performance, but there are significant roadblocks to its implementation in a realistic decision-making framework. Contrasted to risk and…
Comparable to the traditional notion of stability in system dynamics, resilience is typically measured in a way that assesses the quality of a system's response, for example the speed of its recovery. We present a broadly applicable…
It remains challenging to deploy existing risk-averse approaches to real-world applications. The reasons are multi-fold, including the lack of global optimality guarantee and the necessity of learning from long-term consecutive…
Robust simulation is essential for reliable operation and planning of transmission and distribution power grids. At present, disparate methods exist for steady-state analysis of the transmission (power flow) and distribution power grid…
As an important tool in financial risk management, stress testing aims to evaluate the stability of financial portfolios under some potential large shocks from extreme yet plausible scenarios of risk factors. The effectiveness of a stress…
High-performance autonomy often must operate at the boundaries of safety. When external agents are present in a system, the process of ensuring safety without sacrificing performance becomes extremely difficult. In this paper, we present an…
Traceability systems have become prevalent in supply chains because of the rapid development of RFID and IoT technologies. These systems facilitate product recall and mitigate problems such as counterfeiting, tampering, and theft by…
A key quality of any kind of system is its ability to deliver its respective service correctly. Often the unavailability of commercial systems may lead to lost revenue, which are minor compared to what may be at stake when critical…
Feedback dynamic routing is a commonly used control strategy in transportation systems. This class of control strategies relies on real-time information about the traffic state in each link. However, such information may not always be…
The increasing extreme weather events poses unprecedented challenges on power system operation because of their uncertain and sequential impacts on power systems. This paper proposes the concept of an extended steady-state security region…
Global supply lines have been severely disrupted by the COVID-19 epidemic and the conflict between Russia and Ukraine, which has sharply increased the price of commodities and generated inflation. These incidents highlight how critical it…
We study the disequilibrium dynamics of a stylised model of production networks in which firms use perishable and non-substitutable intermediate inputs, so that adverse idiosyncratic productivity shocks can trigger downstream shortages and…
The potential for cascading failure in power systems adds substantially to overall reliability risk. Monte Carlo sampling can be used with a power system model to estimate this impact, but doing so is computationally expensive. This paper…
We develop a general approach for stress testing correlations of financial asset portfolios. The correlation matrix of asset returns is specified in a parametric form, where correlations are represented as a function of risk factors, such…
High levels of penetration of distributed generation and aggressive reactive power compensation may result in the reversal of power flows in future distribution grids. The voltage stability of these operating conditions may be very…
Transmission switching (TS) has gained significant attention recently. However, barriers still remain and must be overcome before the technology can be adopted by the industry. The state of the art challenges include AC feasibility and…
Risk Limiting Dispatch (RLD) was proposed recently as a mechanism that utilizes information and market recourse to reduce reserve capacity requirements, emissions and achieve other system operator objectives. It induces a set of simple…