Power systems with diverse generation - implications, control and capability. This research will generate a systematic methodology to handle the impact of the renewable energy sources on the NSW power grid. It increases our understanding of the impact of climate change policies relating to mandatory targets for greenhouse gas reduction helping to build Australia’s research capacity in the national priority area of an environmentally sustainable Australia. The anticipated methodology can also be ....Power systems with diverse generation - implications, control and capability. This research will generate a systematic methodology to handle the impact of the renewable energy sources on the NSW power grid. It increases our understanding of the impact of climate change policies relating to mandatory targets for greenhouse gas reduction helping to build Australia’s research capacity in the national priority area of an environmentally sustainable Australia. The anticipated methodology can also be seen as protecting the security of power infrastructure as well. Maintaining a critical energy infrastructure protects our way of life and ensures ongoing social, economic and environmental well being of Australia.Read moreRead less
Modelling patient flows through hospitals: optimizing effective use of resources. Hospitals are complex, dynamic systems confronted by increased demand in the face of shrinking real capacity. Managing such systems is currently undertaken with sub-optimal analytical support, particularly when demand and capacity are changing and resources must be manipulated to respond to such changes. In this project, the investigators will apply a mathematical modelling approach to the analysis of hospital pati ....Modelling patient flows through hospitals: optimizing effective use of resources. Hospitals are complex, dynamic systems confronted by increased demand in the face of shrinking real capacity. Managing such systems is currently undertaken with sub-optimal analytical support, particularly when demand and capacity are changing and resources must be manipulated to respond to such changes. In this project, the investigators will apply a mathematical modelling approach to the analysis of hospital patient flows. Furthermore, they will employ statistical process control methodologies to the problem of recognising and responding to changes in the flows, so that performance objectives are met. In doing this, they will give health service managers and clinicians a significant advantage in deciding how best to manage a constrained resource to maximize access, throughput and patient outcomes.Read moreRead less
Optimum location of FACTS devices with advanced control scheme for improving the security of complex power grid. Prevention of blackouts is one of the highest priorities of the electricity industry. One of the fundamental reasons for the recent blackouts in long transmission network is inter-area oscillations. Queensland's long transmission network is a vital part of the Australian electricity grid and is vulnerable to inter-area oscillations. There is a need for a comprehensive approach to inve ....Optimum location of FACTS devices with advanced control scheme for improving the security of complex power grid. Prevention of blackouts is one of the highest priorities of the electricity industry. One of the fundamental reasons for the recent blackouts in long transmission network is inter-area oscillations. Queensland's long transmission network is a vital part of the Australian electricity grid and is vulnerable to inter-area oscillations. There is a need for a comprehensive approach to investigate the effect of inter-area oscillation that contributes to blackouts. Focussing the Queensland network, this project will provide a complete assessment tool for the optimum location of FACTS devices with modern and advanced control schemes in improving the security of complex interconnected power-grid. Read moreRead less
The Australian naturalistic driving study: innovation in road safety research and policy. A revolutionary new approach, the naturalistic driving study, will investigate what people actually do when they drive, in normal and safety-critical situations. It will provide Australia with answers to some intractable, high priority, road safety problems that cannot be answered using current methods, thereby saving hundreds of lives.
Robust Optimal Asset Liability Management via Stochastic Control Theory. The Australian federal and state governments are strongly exposed to the Australian and international investment markets, either directly or through entities such as the Future Fund, state-owned insurers and superannuation schemes. Additionally, the investment pool represented by individual Australian's superannuation savings managed by non-government organisations is significant. Robust and effective management of these ....Robust Optimal Asset Liability Management via Stochastic Control Theory. The Australian federal and state governments are strongly exposed to the Australian and international investment markets, either directly or through entities such as the Future Fund, state-owned insurers and superannuation schemes. Additionally, the investment pool represented by individual Australian's superannuation savings managed by non-government organisations is significant. Robust and effective management of these assets in order to meet future liabilities of these funds are essential to a stable Australian economy. This research has the potential to be a key component of reliable investment management, helping make Australia an important investment hub.Read moreRead less
A longitudinal study of neuropsychological and neuromotor effects of low level manganese exposure. This study will investigate the neuropsychological and neuromotor effects of low level exposure to mangenese particulate. Previous studies have indicated symptomology of high level exposure, but there is contention in the literature regarding the effects of low levels of exposure. Our aim is to refine measures of cumulative exposure and develop a more comprehensive and senstitive testing protocol t ....A longitudinal study of neuropsychological and neuromotor effects of low level manganese exposure. This study will investigate the neuropsychological and neuromotor effects of low level exposure to mangenese particulate. Previous studies have indicated symptomology of high level exposure, but there is contention in the literature regarding the effects of low levels of exposure. Our aim is to refine measures of cumulative exposure and develop a more comprehensive and senstitive testing protocol than has been reported thus far. These measures and protocols will be incorporated into a longitudinal design, which has not been conducted in research studies to date. In addition, a database of exposure variables will be developed to facilitate long-term, accurate research into the effects of the low levels of exposure.Read moreRead less
Ecological-epidemiological models of feral swamp buffalo control in northern Australia. This research is locally, nationally and internationally significant because it 1) improves the capacity of the Northern Territory and its traditional aboriginal owners to manage together this prevalent species in an effort to minimise disturbance to native flora and fauna and to understand the long-term implications of continued proliferation, 2) provides a nationally relevant system to monitor and project t ....Ecological-epidemiological models of feral swamp buffalo control in northern Australia. This research is locally, nationally and internationally significant because it 1) improves the capacity of the Northern Territory and its traditional aboriginal owners to manage together this prevalent species in an effort to minimise disturbance to native flora and fauna and to understand the long-term implications of continued proliferation, 2) provides a nationally relevant system to monitor and project the spread of disease through feral animal populations in Australia, and 3) combines quantitative data and robust analytical tools that can be used as a template for solving many broad-scale feral animal problems around the world.Read moreRead less
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
Supervised autonomy for autonomous underwater vehicles (AUVs) using limited bandwidth communication channels. The project aims to improve the feedback link between an autonomous underwater vehicle (AUV) and an operator by developing novel acoustic communication schemes that exploit developments in machine learning, network, and communication theory and represents a step towards truly autonomous and intelligent surveying using AUV systems.
Models for Australian Electricity Derivatives. Electricity derivatives, such as electricity futures and options are used to manage the risk associated with volatility in prices of electricity. This project aims to develop models for pricing electricity derivatives specifically suited for Australia. Because of the non-storable nature of electricity the standard option pricing principle of "no-arbitrage" does not apply to electricity options, such as caps and floors, but applies to options on elec ....Models for Australian Electricity Derivatives. Electricity derivatives, such as electricity futures and options are used to manage the risk associated with volatility in prices of electricity. This project aims to develop models for pricing electricity derivatives specifically suited for Australia. Because of the non-storable nature of electricity the standard option pricing principle of "no-arbitrage" does not apply to electricity options, such as caps and floors, but applies to options on electricity futures. Therefore a specific model is needed that takes into account the pricing principle of "no-arbitrage" and combines it with other factors that drive electricity prices. The novel element in this proposal is incorporation of the weather forecasts into the models for electricity options. As a result of this study appropriate models for electricity derivatives for various geographical regions in Australia will be developed.Read moreRead less