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University Calendar
Events for May
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Creation and Valuation of Real Options in Engineering Systems
Tue, May 13, 2008 @ 01:30 PM - 02:30 PM
Daniel J. Epstein Department of Industrial and Systems Engineering
University Calendar
Daniel J. Epstein Department of Industrial and Systems Engineering Seminar"Creation and Valuation of Real Options in Engineering Systems"Rania Hassan, Ph.D.Department of Aeronautics & Astronautics and the Engineering Systems Division, Massachusetts Institute of TechnologyABSTRACT: In financial markets, options and derivatives on securities have been adopted as mechanisms to cope with uncertainty. Building on financial options, Real Options Analysis has been emerging in the past few years as a set of tools, or perhaps a discipline, that applies ideas from quantitative finance to "real" assets such as engineering projects for the purpose of managing uncertainty. Dr. Hassan's research presents a Real Options approach for the design and valuation of complex engineered systems that integrates physics-based modeling and engineering design with economic analysis for the purpose of maximizing system's value over its lifetime under uncertain, evolving conditions. The objective of this research is two fold. First, this work brings attention to the often ignored side of Real Options research, which is the creation, rather than the mere valuation, of Real Options in engineering systems. Options are designed into a system by leveraging technical flexibility in engineering design so as to mitigate risk (the downside of uncertainty) and capitalize on potential opportunities (the upside of uncertainty). Second, this research proposes a simple and transparent, yet powerful, valuation approach that is suitable for complex engineering systems. Some foundational concepts and tools pertinent to the design of complex systems will be discussed, including: design optimization under uncertainty, flexibility versus robustness, reliability engineering, decision tree analysis, heuristic search methods, multi-objective optimization, hierarchical optimization, and probabilistic approaches. Case studies on spacecraft design, satellite fleets, space exploration architectures, oil pipeline networks, and underwater combat submersibles will be presented to aid the discussion. TUESDAY, MAY 13, 2008, GERONTOLOGY BUILDING (GER) ROOM 309, 1:30 – 2:30 PM
Location: Ethel Percy Andrus Gerontology Center (GER) - 309
Audiences: Everyone Is Invited
Contact: Georgia Lum
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Optimal Resource Allocation for Defense of Multiple Targets
Wed, May 14, 2008 @ 10:00 AM - 11:00 AM
Daniel J. Epstein Department of Industrial and Systems Engineering
University Calendar
Daniel J. Epstein Department of Industrial and Systems Engineering Seminar"Optimal Resource Allocation for Defense of Multiple Targets"Dr. Vicki M. BierProfessor, Department of Industrial and Systems Engineering & Department of Engineering Physics, University of WisconsinABSTRACT: Allocating a fixed budget to defense of multiple targets is a challenging task. We apply a rigorous model to the problem of identifying optimal allocations. In particular, we explore how the optimal allocation depends on the cost effectiveness of security investments, the defender's valuations of the targets, and the defender's uncertainty about the attacker's target valuations. Our results show that the cost effectiveness of defensive investment has a huge impact on the optimal allocation.WEDNESDAY, MAY 14, 2008, GERONTOLOGY BUILDING (GER) ROOM 309, 10:00–11:00 AM
Location: Ethel Percy Andrus Gerontology Center (GER) - 309
Audiences: Everyone Is Invited
Contact: Georgia Lum
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Research in Serious Games for Teaching Complex Technical Skills: A Systems Approach
Wed, May 21, 2008 @ 10:00 AM - 11:00 AM
Daniel J. Epstein Department of Industrial and Systems Engineering
University Calendar
Daniel J. Epstein Department of Industrial and Systems Engineering Seminar"Research in Serious Games for Teaching Complex Technical Skills: A Systems Approach"Dr. Azad M. MadniCEO and Chief Scientist, Intelligent Systems Technology Inc., Los Angeles, CaliforniaABSTRACT: This talk will present a research initiative concerned with exploring the feasibility of employing serious games with player cognitive state monitoring to teach complex technical skills (e.g., equipment maintenance and troubleshooting). Each research challenge inherent in this problem will be identified and briefly discussed. The research hypotheses associated with each challenge area will be presented along with the research plan. The approach taken to answer questions in each research area will be presented along with the systems architecting and engineering approaches used to conquer problem complexity, perform tradeoffs, and incrementally evaluate and integrate the various subsystems. The talk will conclude with a summary of research findings and generalizability of the overall approach to developing serious games for teaching complex technical skills. WEDNESDAY, MAY 21, 2008, GERONTOLOGY BUILDING (GER) ROOM 309, 10:00 – 11:00 AM
Location: Ethel Percy Andrus Gerontology Center (GER) - 309
Audiences: Everyone Is Invited
Contact: Georgia Lum
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Southern Cal 2008 OR/OM Day
Fri, May 30, 2008 @ 08:40 AM - 03:20 PM
Daniel J. Epstein Department of Industrial and Systems Engineering
University Calendar
Host: USC Operations Management Group Location: Marshall School of Business (Room T.B.A.), 3670 Trousdale Pkwy, Los Angeles, CA 90089 US When: Friday, May 30, 8:40 AM Dear All,As summer is coming to Southern California, so is the annual OR/OM Day. You are cordially invited to this one day conference which covers a broad range of topics. The schedule of the event is attached below. Please reply to this invitation at your earliest convenience. We look forward to welcoming you at USC!Sincerely yours,Amy Ward [amyward@marshall.usc.edu] & Hao Zhang [zhanghao@marshall.usc.edu],
Phone: 213-740-6221 ------------------------------------------------------------------------------------------------------Time Presenter, Affiliation, Topic8:40-9:00 am Welcome & Introduction 9:00-9:25 am Leon Zhu, USC (Asst. Prof.), Implementing High-Powered Contracts to Motivate Intertemporal Effort Supply9:25-9:50 am Onesun Steve Yoo, UCLA (PhD Stud.), Using Operational Levers to Align Forecasting Incentives9:50-10:15 am Michael DiLustro, Northrop Grumman Corp., Moving from Push to Pull for Supply Chain Deliveries10:15-10:30 am Coffee break 10:30-11:10 am Sheldon Ross, USC (Prof.), Some Problems in Applied Probability11:10-11:35 am Amy Ward, USC (Asst. Prof.), Fair Dynamic Routing in Call Centers11:35-12:00 pm Robert Wang, Nestle USA, OR projects in Nestle12:00-1:15 pm Lunch break1:15-1:55 pm Uday Karmarkar, UCLA (Prof.), The Information Economy and Service Industrialization1:55-2:20 pm Terrence August, UCSD (Asst. Prof.), Let the Pirates Patch? An Economic Analysis of Software Security Patch Restrictions2:20-2:30 pm Coffee break2:30-2:55 pm Jay Simon, UCI (PhD Stud.), Decisions Using Geographic Information Systems2:55-3:20 pm Xiao Huang, USC (PhD Stud.), Capacity Investment and Pricing Strategy under Technology EvolutionLocation: TBD
Audiences: Everyone Is Invited
Contact: Georgia Lum
