A New Approach to Air Traffic Management to Deliver Significantly Reduced Environmental Impact and System-wide Efficiencies. Aviation is often cited as a major contributor to harmful emissions in the upper atmosphere. The primary outcome of this project is the development of tools that will enable aviation industry stakeholders to optimise the deployment of 4-Dimensional User Preferred Trajectories across Australian airspace. It is expected that this will result in significant environmental bene ....A New Approach to Air Traffic Management to Deliver Significantly Reduced Environmental Impact and System-wide Efficiencies. Aviation is often cited as a major contributor to harmful emissions in the upper atmosphere. The primary outcome of this project is the development of tools that will enable aviation industry stakeholders to optimise the deployment of 4-Dimensional User Preferred Trajectories across Australian airspace. It is expected that this will result in significant environmental benefit, through reductions in fuel burn for each flight, and increases in system effectiveness. The project will enable better analysis of Australian aviation environmental effect, whilst at the same time allowing the aviation industry to continue to contribute to Australia's sustainable economic growth. Read moreRead less
Investment Approaches and Applications in Financial Markets: Evolutionary Kernel Based Subset Time-Series Using Semi-Parametric Approaches. The project will develop new investment assessments based on subset time-series modeling. Innovative evolutionary kernel smoothing algorithms using semi-parametric approaches will be introduced. The project will make three important applications of this modeling in financial markets: a) benchmarking and evaluation of inflation-indexed bonds; b) evaluation of ....Investment Approaches and Applications in Financial Markets: Evolutionary Kernel Based Subset Time-Series Using Semi-Parametric Approaches. The project will develop new investment assessments based on subset time-series modeling. Innovative evolutionary kernel smoothing algorithms using semi-parametric approaches will be introduced. The project will make three important applications of this modeling in financial markets: a) benchmarking and evaluation of inflation-indexed bonds; b) evaluation of the performance of global diversified investment funds; and c) prediction to provide early warning of the emergence of destabilising deflation or inflation. These three applications will lead to improved risk management practices and investment performance. Recursive algorithms will provide new statistical methods to study investment asset price movements and market volatility.
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Investment approaches and opportunities in renewable energy and financial resource markets, using semi-parametric approaches to evolutionary subset time-series lattice-ladder modelling. The project findings will help Australian exporters and importers understand and manage energy and resource price risks more effectively. The investment community will benefit through selecting optimal asset allocations and enhancing value to investors. It will also benefit many other agencies, particularly in th ....Investment approaches and opportunities in renewable energy and financial resource markets, using semi-parametric approaches to evolutionary subset time-series lattice-ladder modelling. The project findings will help Australian exporters and importers understand and manage energy and resource price risks more effectively. The investment community will benefit through selecting optimal asset allocations and enhancing value to investors. It will also benefit many other agencies, particularly in the service industries. It is not well recognised that in developed countries, including Australia, the financial service and related sectors account for more than 60 percent of economic activity and employment, so it is critical that more sophisticated statistical methods be established, and practical applications conducted, in order to advance the understanding of complexity management in the financial service and related sectors.Read moreRead less
Optimal management of corrosion and odour problems in sewer systems. Pollutants in wastewater undergo complex changes in sewers, leading to the production and release of odorous and corrosive compounds. Despite major efforts and expenditure by water utilities to mitigate these problems, odorous emissions from sewers are still commonly occurring in urban areas. Furthermore, the value of public assets is significantly diminished due to sewer corrosion, costing hundreds of millions of dollars a yea ....Optimal management of corrosion and odour problems in sewer systems. Pollutants in wastewater undergo complex changes in sewers, leading to the production and release of odorous and corrosive compounds. Despite major efforts and expenditure by water utilities to mitigate these problems, odorous emissions from sewers are still commonly occurring in urban areas. Furthermore, the value of public assets is significantly diminished due to sewer corrosion, costing hundreds of millions of dollars a year in Australia alone. This project is a major joint effort by the Australian water industry and world-leading scientists to generate advanced knowledge and develop effective technologies for optimal odour and corrosion management in sewers, delivering large social, environmental and economic benefits.Read moreRead less
Understanding the Biotransformation Processes in a Sewer System to Achieve Optimal Management. Sewer corrosion and odour emissions are incurring massive costs to the wastewater management authorities. These problems are primarily caused by the hydrogen sulfide produced by the in-sewer biotransformation processes. Through integrating controlled laboratory experiments, extensive field measurement/experiments and advanced computer modelling, the project aims to generate a fundamental understanding ....Understanding the Biotransformation Processes in a Sewer System to Achieve Optimal Management. Sewer corrosion and odour emissions are incurring massive costs to the wastewater management authorities. These problems are primarily caused by the hydrogen sulfide produced by the in-sewer biotransformation processes. Through integrating controlled laboratory experiments, extensive field measurement/experiments and advanced computer modelling, the project aims to generate a fundamental understanding of the in-sewer biotransformation processes, in particular those occurring in sewer biofilms and sediments, and to provide scientific and engineering support to the wastewater authorities to manage their sewers in a more cost-effective way. Emphasis is placed on the integrated sewer and wastewater treatment performance to achieve overall optimal wastewater management.Read moreRead less
The Pricing and Hedging of Multi-Factor Multi-Commodity Based Swing Options. The partner organisation, an Australian based company, is a leading global player in providing risk management solutions to energy corporations world-wide. The advances of the project will help it to enhance Australia's role as a provider of practical implementation of the most recent academic advances in the area of risk management technology.
Developing a robust model for pricing inter-related volatility-based financial derivative contracts. Volatility-based financial contracts were developed in the late 1990s to provide an easy way for investors to gain exposure to the future level of volatility and thus provide a means by which they could speculate on its future levels and also hedge unpredictable volatility risk. This would potentially save them from losing vast quantities of money. However these products can only be efficient pr ....Developing a robust model for pricing inter-related volatility-based financial derivative contracts. Volatility-based financial contracts were developed in the late 1990s to provide an easy way for investors to gain exposure to the future level of volatility and thus provide a means by which they could speculate on its future levels and also hedge unpredictable volatility risk. This would potentially save them from losing vast quantities of money. However these products can only be efficient products for trading and risk management if they are priced correctly. This project will benefit investors by providing empirically viable models that will be able to be easily implemented to provide accurate and fast pricing solutions.Read moreRead less
Variation and Perceptual Ecologies in Computer Games and Simulations: Towards a Generic Model of Variable 3D Environments. The non repeatability is a key element in providing a challenging and interesting experience in computer games and simulations. However, too much variation could lead to a rejection of the environment and reluctance to accept the premise as a base for game play or training. Examples of applications that could utilise this research include; (a) Computer Games - always playing ....Variation and Perceptual Ecologies in Computer Games and Simulations: Towards a Generic Model of Variable 3D Environments. The non repeatability is a key element in providing a challenging and interesting experience in computer games and simulations. However, too much variation could lead to a rejection of the environment and reluctance to accept the premise as a base for game play or training. Examples of applications that could utilise this research include; (a) Computer Games - always playing in an unknown environment, (b) Vocational Training - a Forest Fire Fighting simulation that allows for different terrain configurations, undergrowth volatility, fire source, etc., and (c) Military Simulations - Anti-terrorist simulations where the level of variability will manifest itself both in the physical environment and in the nature of the combatants. Read moreRead less
Freshing, mixing and purging of riverine saline ponds by freshwater overflow. Develop a model to accurately predict the full details of flow in saline river ponds subjected to a freshwater overflow. Such ponds are ubiquitous in Australia's inland rivers, have low oxygen and high nutrient and salinity levels and are associated with poor water quality, both in the pond and downstream during flow events. The model will allow precise determination of the river flow rates required to fully purge pond ....Freshing, mixing and purging of riverine saline ponds by freshwater overflow. Develop a model to accurately predict the full details of flow in saline river ponds subjected to a freshwater overflow. Such ponds are ubiquitous in Australia's inland rivers, have low oxygen and high nutrient and salinity levels and are associated with poor water quality, both in the pond and downstream during flow events. The model will allow precise determination of the river flow rates required to fully purge ponds and the downstream effect of the low quality pond water on the riverine environment and will also assist in the devlopment of rule of thumb scaling formula that will be incorporated into a one-dimensional flow prediction model being developed by the industrial partner.Read moreRead less
Using Mathematics to Maximize the Efficiency of Shared Infrastructure in Australia's Coal Export Supply Chain. Port Waratah Coal Services operates the world's largest coal export terminal, servicing about 14 coal mining companies in the Hunter Valley, NSW. It is responsible for around $15 billion in annual export income for Australia. The coal supply chain is a complex operation, hampered by bottlenecks in critical shared infrastructure. Such limitations are estimated to cost Australia about $2 ....Using Mathematics to Maximize the Efficiency of Shared Infrastructure in Australia's Coal Export Supply Chain. Port Waratah Coal Services operates the world's largest coal export terminal, servicing about 14 coal mining companies in the Hunter Valley, NSW. It is responsible for around $15 billion in annual export income for Australia. The coal supply chain is a complex operation, hampered by bottlenecks in critical shared infrastructure. Such limitations are estimated to cost Australia about $2 billion pa in lost sales. This project will support the design of new infrastructure and processes to ensure an efficient supply chain. The new science resulting will benefit other coal operations in Australia, and potentially other bulk goods supply chains.Read moreRead less