Search results for: finite element models
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 4249

Search results for: finite element models

3169 Circular Patch Microstrip Array Antenna for KU-band

Authors: T.F.Lai, Wan Nor Liza Mahadi, Norhayati Soin

Abstract:

This paper present a circular patch microstrip array antenna operate in KU-band (10.9GHz – 17.25GHz). The proposed circular patch array antenna will be in light weight, flexible, slim and compact unit compare with current antenna used in KU-band. The paper also presents the detail steps of designing the circular patch microstrip array antenna. An Advance Design System (ADS) software is used to compute the gain, power, radiation pattern, and S11 of the antenna. The proposed Circular patch microstrip array antenna basically is a phased array consisting of 'n' elements (circular patch antennas) arranged in a rectangular grid. The size of each element is determined by the operating frequency. The incident wave from satellite arrives at the plane of the antenna with equal phase across the surface of the array. Each 'n' element receives a small amount of power in phase with the others. There are feed network connects each element to the microstrip lines with an equal length, thus the signals reaching the circular patches are all combined in phase and the voltages add up. The significant difference of the circular patch array antenna is not come in the phase across the surface but in the magnitude distribution.

Keywords: Circular patch microstrip array antenna, gain, radiation pattern, S-Parameter.

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3168 Finite Difference Method of the Seismic Analysis of Earth Dam

Authors: Alaoua Bouaicha, Fahim Kahlouche, Abdelhamid Benouali

Abstract:

Many embankment dams have suffered failures during earthquakes due to the increase of pore water pressure under seismic loading. After analyzing of the behavior of embankment dams under severe earthquakes, major advances have been attained in the understanding of the seismic action on dams. The present study concerns numerical analysis of the seismic response of earth dams. The procedure uses a nonlinear stress-strain relation incorporated into the code FLAC2D based on the finite difference method. This analysis provides the variation of the pore water pressure and horizontal displacement.

Keywords: Earthquake, numerical analysis, FLAC2D, displacement, Embankment Dam, pore water pressure.

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3167 Mixing Behaviors of Wet Granular Materials in Gas Fluidized Beds

Authors: Eldin Wee Chuan Lim

Abstract:

The mixing behaviors of dry and wet granular materials in gas fluidized bed systems were investigated computationally using the combined Computational Fluid Dynamics and Discrete Element Method (CFD-DEM). Dry particles were observed to mix fairly rapidly during the fluidization process due to vigorous relative motions between particles induced by the flow of gas. In contrast, due to the presence of strong cohesive forces arising from capillary liquid bridges between wet particles, the mixing efficiencies of wet granular materials under similar operating conditions were observed to be reduced significantly.

Keywords: Computational Fluid Dynamics, Discrete Element Method, Gas Fluidization, Mixing, Wet particles

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3166 On a Discrete-Time GIX/Geo/1/N Queue with Single Working Vacation and Partial Batch Rejection

Authors: Shan Gao

Abstract:

This paper treats a discrete-time finite buffer batch arrival queue with a single working vacation and partial batch rejection in which the inter-arrival and service times are, respectively, arbitrary and geometrically distributed. The queue is analyzed by using the supplementary variable and the imbedded Markov-chain techniques. We obtain steady-state system length distributions at prearrival, arbitrary and outside observer-s observation epochs. We also present probability generation function (p.g.f.) of actual waiting-time distribution in the system and some performance measures.

Keywords: Discrete-time, finite buffer, single working vacation, batch arrival, partial rejection.

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3165 A Comparison of the Sum of Squares in Linear and Partial Linear Regression Models

Authors: Dursun Aydın

Abstract:

In this paper, estimation of the linear regression model is made by ordinary least squares method and the partially linear regression model is estimated by penalized least squares method using smoothing spline. Then, it is investigated that differences and similarity in the sum of squares related for linear regression and partial linear regression models (semi-parametric regression models). It is denoted that the sum of squares in linear regression is reduced to sum of squares in partial linear regression models. Furthermore, we indicated that various sums of squares in the linear regression are similar to different deviance statements in partial linear regression. In addition to, coefficient of the determination derived in linear regression model is easily generalized to coefficient of the determination of the partial linear regression model. For this aim, it is made two different applications. A simulated and a real data set are considered to prove the claim mentioned here. In this way, this study is supported with a simulation and a real data example.

Keywords: Partial Linear Regression Model, Linear RegressionModel, Residuals, Deviance, Smoothing Spline.

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3164 Numerical Simulation of the Flow Field around a Vertical Flat Plate of Infinite Extent

Authors: Marco Raciti Castelli, Paolo Cioppa, Ernesto Benini

Abstract:

This paper presents a CFD analysis of the flow field around a thin flat plate of infinite span inclined at 90° to a fluid stream of infinite extent. Numerical predictions have been compared to experimental measurements, in order to assess the potential of the finite volume code of determining the aerodynamic forces acting on a bluff body invested by a fluid stream of infinite extent. Several turbulence models and spatial node distributions have been tested. Flow field characteristics in the neighborhood of the flat plate have been investigated, allowing the development of a preliminary procedure to be used as guidance in selecting the appropriate grid configuration and the corresponding turbulence model for the prediction of the flow field over a two-dimensional vertical flat plate.

Keywords: CFD, vertical flat plate, aerodynamic force

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3163 Effect of Vibration Amplitude and Welding Force on Weld Strength of Ultrasonic Metal Welding

Authors: Ziad. Sh. Al Sarraf

Abstract:

Ultrasonic metal welding has been the subject of ongoing research and development, most recently concentrating on metal joining in miniature devices, for example to allow solder-free wire bonding. As well as at the small scale, there are also opportunities to research the joining of thicker sheet metals and to widen the range of similar and dissimilar materials that can be successfully joined using this technology. This study presents the design, characterisation and test of a lateral-drive ultrasonic metal spot welding device. The ultrasonic metal spot welding horn is modelled using finite element analysis (FEA) and its vibration behaviour is characterised experimentally to ensure ultrasonic energy is delivered effectively to the weld coupon. The welding stack and fixtures are then designed and mounted on a test machine to allow a series of experiments to be conducted for various welding and ultrasonic parameters. Weld strength is subsequently analysed using tensile-shear tests. The results show how the weld strength is particularly sensitive to the combination of clamping force and ultrasonic vibration amplitude of the welding tip, but there are optimal combinations of these and also limits that must be clearly identified.

Keywords: Ultrasonic welding, vibration amplitude, welding force, weld strength.

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3162 On the Wreath Product of Group by Some Other Groups

Authors: Basmah H. Shafee

Abstract:

In this paper, we will generate the wreath product 11 12 M wrM using only two permutations. Also, we will show the structure of some groups containing the wreath product 11 12 M wrM . The structure of the groups founded is determined in terms of wreath product k (M wrM ) wrC 11 12 . Some related cases are also included. Also, we will show that 132K+1 S and 132K+1 A can be generated using the wreath product k (M wrM ) wrC 11 12 and a transposition in 132K+1 S and an element of order 3 in 132K+1 A . We will also show that 132K+1 S and 132K+1 A can be generated using the wreath product 11 12 M wrM and an element of order k +1.

Keywords: Group presentation, group generated by n-cycle, Wreath product, Mathieu group.

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3161 Ultra-Wideband Slot Antenna with Notched Band for World Interoperability for Microwave Access

Authors: Rezaul Azim, A. Toaha Mobashsher, M. Tariqul Islam

Abstract:

In this paper a novel ultra-wideband (UWB) slot antenna with band notch characteristics for world interoperability for microwave access (WiMAX) is proposed. The designed antenna consists of a rectangular radiating patch and a ground plane with tapered shape slot. To realize a notch band, a curved parasitic element has been etched out along with the radiating patch. It is observed that by adjusting the length, thickness and position of the parasitic element, the proposed antenna can achieved an impedance bandwidth of 8.01GHz (2.84 to 10.85GHz) with a notched band of 3.28-3.85GHz. Compared to the recently reported band notch antennas, the proposed antenna has a simple configuration to realize band notch characteristics in order to mitigate the potential interference between WiMAX and UWB system. Furthermore, a stable radiation pattern and moderate gain except at the notched band makes the proposed antenna suitable for various UWB applications. 

Keywords: Band notch, Filter element, Ultra-wideband (UWB), WiMAX.

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3160 Fast Facial Feature Extraction and Matching with Artificial Face Models

Authors: Y. H. Tsai, Y. W. Chen

Abstract:

Facial features are frequently used to represent local properties of a human face image in computer vision applications. In this paper, we present a fast algorithm that can extract the facial features online such that they can give a satisfying representation of a face image. It includes one step for a coarse detection of each facial feature by AdaBoost and another one to increase the accuracy of the found points by Active Shape Models (ASM) in the regions of interest. The resulted facial features are evaluated by matching with artificial face models in the applications of physiognomy. The distance measure between the features and those in the fate models from the database is carried out by means of the Hausdorff distance. In the experiment, the proposed method shows the efficient performance in facial feature extractions and online system of physiognomy.

Keywords: Facial feature extraction, AdaBoost, Active shapemodel, Hausdorff distance

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3159 Design of 3-Step Skew BLAC Motor for Better Performance in Electric Power Steering System

Authors: Design of 3-Step Skew BLAC Motor for Better Performance in Electric Power Steering System

Abstract:

In Electric Power Steering (EPS), spoke type Brushless AC (BLAC) motors offer distinct advantages over other electric motor types in terms torque smoothness, reliability and efficiency. This paper deals with the shape optimization of spoke type BLAC motor, in order to reduce cogging torque. This paper examines 3 steps skewing rotor angle, optimizing rotor core edge and rotor overlap length for reducing cogging torque in spoke type BLAC motor. The methods were applied to existing machine designs and their performance was calculated using finite- element analysis (FEA). Prototypes of the machine designs were constructed and experimental results obtained. It is shown that the FEA predicted the cogging torque to be nearly reduce using those methods.

Keywords: EPS, 3-Step skewing, spoke type BLAC, cogging torque, FEA, optimization.

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3158 A Note on MHD Flow and Heat Transfer over a Curved Stretching Sheet by Considering Variable Thermal Conductivity

Authors: M. G. Murtaza, E. E. Tzirtzilakis, M. Ferdows

Abstract:

The mixed convective flow of MHD incompressible, steady boundary layer in heat transfer over a curved stretching sheet due to temperature dependent thermal conductivity is studied. We use curvilinear coordinate system in order to describe the governing flow equations. Finite difference solutions with central differencing have been used to solve the transform governing equations. Numerical results for the flow velocity and temperature profiles are presented as a function of the non-dimensional curvature radius. Skin friction coefficient and local Nusselt number at the surface of the curved sheet are discussed as well.

Keywords: Curved stretching sheet, finite difference method, MHD, variable thermal conductivity.

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3157 Implied Adjusted Volatility by Leland Option Pricing Models: Evidence from Australian Index Options

Authors: Mimi Hafizah Abdullah, Hanani Farhah Harun, Nik Ruzni Nik Idris

Abstract:

With the implied volatility as an important factor in financial decision-making, in particular in option pricing valuation, and also the given fact that the pricing biases of Leland option pricing models and the implied volatility structure for the options are related, this study considers examining the implied adjusted volatility smile patterns and term structures in the S&P/ASX 200 index options using the different Leland option pricing models. The examination of the implied adjusted volatility smiles and term structures in the Australian index options market covers the global financial crisis in the mid-2007. The implied adjusted volatility was found to escalate approximately triple the rate prior the crisis.

Keywords: Implied adjusted volatility, Financial crisis, Leland option pricing models.

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3156 Dental Students’ Attitude towards Problem-Based Learning before and after Implementing 3D Electronic Dental Models

Authors: Hai Ming Wong, Kuen Wai Ma, Lavender Yu Xin Yang, Yanqi Yang

Abstract:

Objectives: In recent years, the Faculty of Dentistry of the University of Hong Kong have extended the implementation of 3D electronic models (e-models) into problem-based learning (PBL) of the Bachelor of Dental Surgery (BDS) curriculum, aiming at mutual enhancement of PBL teaching quality and the students’ skills in using e-models. This study focuses on the effectiveness of e-models serving as a tool to enhance the students’ skills and competences in PBL. Methods: The questionnaire surveys are conducted to measure 50 fourth-year BDS students’ attitude change between beginning and end of blended PBL tutorials. The response rate of this survey is 100%. Results: The results of this study show the students’ agreement on enhancement of their learning experience after e-model implementation and their expectation to have more blended PBL courses in the future. The potential of e-models in cultivating students’ self-learning skills reduces their dependence on others, while improving their communication skills to argue about pros and cons of different treatment options. The students’ independent thinking ability and problem solving skills are promoted by e-model implementation, resulting in better decision making in treatment planning. Conclusion: It is important for future dental education curriculum planning to cope with the students’ needs, and offer support in the form of software, hardware and facilitators’ assistance for better e-model implementation.

Keywords: Problem-Based learning, curriculum, dental education, 3-D electronic models.

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3155 Failure Analysis and Fatigue Life Estimation of a Shaft of a Rotary Draw Bending Machine

Authors: B. Engel, Sara Salman Hassan Al-Maeeni

Abstract:

Human consumption of the Earth's resources increases the need for a sustainable development as an important ecological, social, and economic theme. Re-engineering of machine tools, in terms of design and failure analysis, is defined as steps performed on an obsolete machine to return it to a new machine with the warranty that matches the customer requirement. To understand the future fatigue behavior of the used machine components, it is important to investigate the possible causes of machine parts failure through design, surface, and material inspections. In this study, the failure modes of the shaft of the rotary draw bending machine are inspected. Furthermore, stress and deflection analysis of the shaft subjected to combined torsion and bending loads are carried out by an analytical method and compared with a finite element analysis method. The theoretical fatigue strength, correction factors, and fatigue life sustained by the shaft before damaged are estimated by creating a stress-cycle (S-N) diagram. In conclusion, it is seen that the shaft can work in the second life, but it needs some surface treatments to increase the reliability and fatigue life.

Keywords: Failure analysis, fatigue life, FEM analysis, shaft, stress analysis.

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3154 Heat and Mass Transfer in a Saturated Porous Medium Confined in Cylindrical Annular Geometry

Authors: A. Ja, J. Belabid, A. Cheddadi

Abstract:

This paper reports the numerical simulation of doublediffusive natural convection flows within a horizontal annular filled with a saturated porous medium. The analysis concerns the influence of the different parameters governing the problem, namely, the Rayleigh number Ra, the Lewis number Le and the buoyancy ratio N, on the heat and mass transfer and on the flow structure, in the case of a fixed radius ratio R = 2. The numerical model used for the discretization of the dimensionless equations governing the problem is based on the finite difference method, using the ADI scheme. The study is focused on steady-state solutions in the cooperation situation.

Keywords: Natural convection, double-diffusion, porous medium, annular geometry, finite differences.

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3153 Comparative Study of Experimental and Theoretical Convective, Evaporative for Two Model Distiller

Authors: Khaoula Hidouri, Ali Benhmidene, Bechir Chouachi

Abstract:

The purification of brackish seawater becomes a necessity and not a choice against demographic and industrial growth especially in third world countries. Two models can be used in this work: simple solar still and simple solar still coupled with a heat pump. In this research, the productivity of water by Simple Solar Distiller (SSD) and Simple Solar Distiller Hybrid Heat Pump (SSDHP) was determined by the orientation, the use of heat pump, the simple or double glass cover. The productivity can exceed 1.2 L/m²h for the SSDHP and 0.5 L/m²h for SSD model. The result of the global efficiency is determined for two models SSD and SSDHP give respectively 30%, 50%. The internal efficiency attained 35% for SSD and 60% of the SSDHP models. Convective heat coefficient can be determined by attained 2.5 W/m²°C and 0.5 W/m²°C respectively for SSDHP and SSD models.

Keywords: Productivity, efficiency, convective heat coefficient, SSD model, SSDHP model.

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3152 Simple and Advanced Models for Calculating Single-Phase Diode Rectifier Line-Side Harmonics

Authors: Hussein A. Kazem, Abdulhakeem Abdullah Albaloshi, Ali Said Ali Al-Jabri, Khamis Humaid AlSaidi

Abstract:

This paper proposes different methods for estimation of the harmonic currents of the single-phase diode bridge rectifier. Both simple and advanced methods are compared and the models are put into a context of practical use for calculating the harmonic distortion in a typical application. Finally, the different models are compared to measurements of a real application and convincing results are achieved.

Keywords: Single-phase rectifier, line side Harmonics

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3151 Performance of Axially Loaded Single Pile Embedded in Cohesive Soil with Cavities

Authors: Ali A. Al-Jazaairry, Tahsin T. Sabbagh

Abstract:

The stability of a single model pile located adjacent to a continuous cavity was studied. This paper is an attempt to understand the behaviour of axially loaded single pile embedded in clayey soil with the presences of cavities. The performance of piles located in such soils was studied analytically. A verification analysis was carried out on available studies to assess the ability of analytical model to correctly interpret the system behaviour. The study was adopted by finite element program (PLAXIS). The study included many cases; in each case, there is a critical value in which the presence of cavities has shown minimum effect on the pile performance. Figures including the load carrying capacity of pile with the affecting factors are presented. These figures provide beneficial information for pile design constructed close to underground cavities. It was concluded that the load carrying capacity of the pile is reduced by the presence of the cavity within the soil mass. This reduction varies according to the size and location of cavity.

Keywords: Axial load, cavity, clay, pile, ultimate capacity.

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3150 Conceptional Design of a Hyperloop Capsule with Linear Induction Propulsion System

Authors: Ahmed E. Hodaib, Samar F. Abdel Fattah

Abstract:

High-speed transportation is a growing concern. To develop high-speed rails and to increase high-speed efficiencies, the idea of Hyperloop was introduced. The challenge is to overcome the difficulties of managing friction and air-resistance which become substantial when vehicles approach high speeds. In this paper, we are presenting the methodologies of the capsule design which got a design concept innovation award at SpaceX competition in January, 2016. MATLAB scripts are written for the levitation and propulsion calculations and iterations. Computational Fluid Dynamics (CFD) is used to simulate the air flow around the capsule considering the effect of the axial-flow air compressor and the levitation cushion on the air flow. The design procedures of a single-sided linear induction motor are analyzed in detail and its geometric and magnetic parameters are determined. A structural design is introduced and Finite Element Method (FEM) is used to analyze the stresses in different parts. The configuration and the arrangement of the components are illustrated. Moreover, comments on manufacturing are made.

Keywords: High-speed transportation, Hyperloop, railways transportation, single-sided linear induction motor.

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3149 New Fourth Order Explicit Group Method in the Solution of the Helmholtz Equation

Authors: Norhashidah Hj. Mohd Ali, Teng Wai Ping

Abstract:

In this paper, the formulation of a new group explicit method with a fourth order accuracy is described in solving the two dimensional Helmholtz equation. The formulation is based on the nine-point fourth order compact finite difference approximation formula. The complexity analysis of the developed scheme is also presented. Several numerical experiments were conducted to test the feasibility of the developed scheme. Comparisons with other existing schemes will be reported and discussed. Preliminary results indicate that this method is a viable alternative high accuracy solver to the Helmholtz equation.

Keywords: Explicit group method, finite difference, Helmholtz equation, five-point formula, nine-point formula.

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3148 The Impact of Semantic Web on E-Commerce

Authors: Karim Heidari

Abstract:

Semantic Web Technologies enable machines to interpret data published in a machine-interpretable form on the web. At the present time, only human beings are able to understand the product information published online. The emerging semantic Web technologies have the potential to deeply influence the further development of the Internet Economy. In this paper we propose a scenario based research approach to predict the effects of these new technologies on electronic markets and business models of traders and intermediaries and customers. Over 300 million searches are conducted everyday on the Internet by people trying to find what they need. A majority of these searches are in the domain of consumer ecommerce, where a web user is looking for something to buy. This represents a huge cost in terms of people hours and an enormous drain of resources. Agent enabled semantic search will have a dramatic impact on the precision of these searches. It will reduce and possibly eliminate information asymmetry where a better informed buyer gets the best value. By impacting this key determinant of market prices semantic web will foster the evolution of different business and economic models. We submit that there is a need for developing these futuristic models based on our current understanding of e-commerce models and nascent semantic web technologies. We believe these business models will encourage mainstream web developers and businesses to join the “semantic web revolution."

Keywords: E-Commerce, E-Business, Semantic Web, XML.

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3147 Evaluation of the Effect of Rotor Solidity on the Performance of a H-Darrieus Turbine Adopting a Blade Element-Momentum Algorithm

Authors: G. Bedon, M. Raciti Castelli, E. Benini

Abstract:

The present study aims to evaluating the effect of rotor solidity - in terms of chord length for a given rotor diameter - on the performances of a small vertical axis Darrieus wind turbine. The proposed work focuses on both power production and rotor power coefficient, considering also the structural constraints deriving from the centrifugal forces due to rotor angular velocity. Also the smoothness of the resulting power curves have been investigated, in order to evaluate the controllability of the corresponding rotor architectures.

Keywords: Vertical axis wind turbine, Darrieus, solidity, Blade Element-Momentum

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3146 Travel Time Model for Cylinder Type Parking System

Authors: Jing Zhang, Jie Chen

Abstract:

In this paper, we mainly analyze an automated parking system where the storage and retrieval requests are performed by a tower crane. In this parking system, the S/R crane which is located at the middle of the bottom of the cylinder parking area can rotate in both clockwise and counterclockwise and three kinds of movements can be done simultaneously. We develop some mathematical travel time models for the single command cycle under the random storage assignment using the characteristics of this system. Finally, we compare these travel models with discrete case and it is shown that these travel models display a good satisfactory performance.

Keywords: Parking system, travel time model, tower crane.

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3145 Object-Oriented Simulation of Simulating Anticipatory Systems

Authors: Eugene Kindler

Abstract:

The present paper is oriented to problems of simulation of anticipatory systems, namely those that use simulation models for the aid of anticipation. A certain analogy between use of simulation and imagining will be applied to make the explication more comprehensible. The paper will be completed by notes of problems and by some existing applications. The problems consist in the fact that simulation of the mentioned anticipatory systems end is simulation of simulating systems, i.e. in computer models handling two or more modeled time axes that should be mapped to real time flow in a nondescent manner. Languages oriented to objects, processes and blocks can be used to surmount the problems.

Keywords: Anticipatory systems, Nested computer models, Discrete event simulation, Simula.

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3144 Investigation and Calculation of Seismic Reliability of Structures

Authors: Panam. Zarfam, Mohsen. Javan Pour

Abstract:

Recently, analysis and designing of the structures based on the Reliability theory have been the center of attention. Reason of this attention is the existence of the natural and random structural parameters such as the material specification, external loads, geometric dimensions etc. By means of the Reliability theory, uncertainties resulted from the statistical nature of the structural parameters can be changed into the mathematical equations and the safety and operational considerations can be considered in the designing process. According to this theory, it is possible to study the destruction probability of not only a specific element but also the entire system. Therefore, after being assured of safety of every element, their reciprocal effects on the safety of the entire system can be investigated.

Keywords: Probability, Reliability, Statistics, Uncertainty

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3143 Comparative Analysis of the Stochastic and Parsimonious Interest Rates Models on Croatian Government Market

Authors: Zdravka Aljinović, Branka Marasović, Blanka Škrabić

Abstract:

The paper provides a discussion of the most relevant aspects of yield curve modeling. Two classes of models are considered: stochastic and parsimonious function based, through the approaches developed by Vasicek (1977) and Nelson and Siegel (1987). Yield curve estimates for Croatia are presented and their dynamics analyzed and finally, a comparative analysis of models is conducted.

Keywords: the term structure of interest rates, Vasicek model, Nelson-Siegel model, Croatian Government market.

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3142 A 3 Dimensional Simulation of the Repeated Load Triaxial Test

Authors: Bao Thach Nguyen, Abbas Mohajerani

Abstract:

A typical flexible pavement structure consists of the surface, base, sub-base and subgrade soil. The loading traffic is transferred from the top layer with higher stiffness to the layer below with less stiffness. Under normal traffic loading, the behaviour of flexible pavement is very complex and can be predicted by using the repeated load triaxial test equipment in the laboratory. However, the nature of the repeated load triaxial testing procedure is considered time-consuming, complicated and expensive, and it is a challenge to carry out as a routine test in the laboratory. Therefore, the current paper proposes a numerical approach to simulate the repeated load triaxial test by employing the discrete element method. A sample with particle size ranging from 2.36mm to 19.0mm was constructed. Material properties, which included normal stiffness, shear stiffness, coefficient of friction, maximum dry density and particle density, were used as the input for the simulation. The sample was then subjected to a combination of deviator and confining stress and it was found that the discrete element method is able to simulate the repeated load triaxial test in the laboratory.

Keywords: Discrete element method, repeated load triaxial, pavement materials.

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3141 Using Exponential Lévy Models to Study Implied Volatility patterns for Electricity Options

Authors: Pinho C., Madaleno M.

Abstract:

German electricity European options on futures using Lévy processes for the underlying asset are examined. Implied volatility evolution, under each of the considered models, is discussed after calibrating for the Merton jump diffusion (MJD), variance gamma (VG), normal inverse Gaussian (NIG), Carr, Geman, Madan and Yor (CGMY) and the Black and Scholes (B&S) model. Implied volatility is examined for the entire sample period, revealing some curious features about market evolution, where data fitting performances of the five models are compared. It is shown that variance gamma processes provide relatively better results and that implied volatility shows significant differences through time, having increasingly evolved. Volatility changes for changed uncertainty, or else, increasing futures prices and there is evidence for the need to account for seasonality when modelling both electricity spot/futures prices and volatility.

Keywords: Calibration, Electricity Markets, Implied Volatility, Lévy Models, Options on Futures, Pricing

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3140 Project Management Maturity Models and Organizational Project Management Maturity Model (OPM3®): A Critical Morphological Evaluation

Authors: Farrokh J., Azhar K. Mansur

Abstract:

There exists a strong correlation between efficient project management and competitive advantage for organizations. Therefore, organizations are striving to standardize and assess the rigor of their project management processes and capabilities i.e. project management maturity. Researchers and standardization organizations have developed several project management maturity models (PMMMs) to assess project management maturity of the organizations. This study presents a critical evaluation of some of the leading PMMMs against OPM3® in a multitude of ways to look at which PMMM is the most comprehensive model - which could assess most aspects of organizations and also help the organizations in gaining competitive advantage over competitors. After a detailed morphological analysis of the models, it is concluded that OPM3® is the most promising maturity model that can really provide a competitive advantage to the organizations due to its unique approach of assessment and improvement strategies.

Keywords: Project management maturity, project managemen tmaturity models, competitive advantage.

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