Rare Event Simulation with Heavy Tails. The project provides a rigorous way to enhance our understanding of the mechanisms that bring about catastrophic rare events such as urban flooding, electricity shortages and financial bankrupcy. Australia is at the forefront of exciting recent developments in rare event simulation. The advancement of the knowledge in this area will generate a competitive advantage for various sections of the Australian industry, including the areas of industrial reliabili ....Rare Event Simulation with Heavy Tails. The project provides a rigorous way to enhance our understanding of the mechanisms that bring about catastrophic rare events such as urban flooding, electricity shortages and financial bankrupcy. Australia is at the forefront of exciting recent developments in rare event simulation. The advancement of the knowledge in this area will generate a competitive advantage for various sections of the Australian industry, including the areas of industrial reliability, finance and insurance, were accurate simulation techniques are becoming increasingly important.Read moreRead less
Improved Monte Carlo Methods for Estimation, Optimisation and Counting. The project will benefit the Australian society by building the theoretical and methodological foundations for the next generation of Monte Carlo techniques. The advancement of the knowledge in this area will provide important tools for solving complex estimation, optimisation and counting problems in engineering, statistics, computer science, mathematics and the physical and life sciences. As a result it will generate a com ....Improved Monte Carlo Methods for Estimation, Optimisation and Counting. The project will benefit the Australian society by building the theoretical and methodological foundations for the next generation of Monte Carlo techniques. The advancement of the knowledge in this area will provide important tools for solving complex estimation, optimisation and counting problems in engineering, statistics, computer science, mathematics and the physical and life sciences. As a result it will generate a competitive advantage for various sections of the Australian industry, including telecommunications, biotechnology and finance. The project will enable Australian researchers to continue to work at the forefront of this fast moving and exciting area of international research.Read moreRead less
Improving Productivity and Efficiency of Australian Airports – A Real Time Analytics and Statistical Approach. Aviation is a major economic driver both within Australia and overseas, but the aviation industry faces growing challenges from the increase in passengers and changing regulations. To meet these challenges, airports, airlines, government agencies and others need to maximise their efficiency and productivity; however, complex dependencies and differing operational objectives complicate t ....Improving Productivity and Efficiency of Australian Airports – A Real Time Analytics and Statistical Approach. Aviation is a major economic driver both within Australia and overseas, but the aviation industry faces growing challenges from the increase in passengers and changing regulations. To meet these challenges, airports, airlines, government agencies and others need to maximise their efficiency and productivity; however, complex dependencies and differing operational objectives complicate this task. This project aims to develop a real-time, whole-of-system operational performance framework that can help operators in finding and evaluating solutions to maximise throughput, reduce wait times and mitigate flow-on effects. Innovative new video analytic and Bayesian Network based tools are integrated to address the challenges of adaptability and uncertainty.Read moreRead less