Search results for: logic modeling
1306 Stochastic Risk Analysis Framework for Building Construction Projects
Authors: Abdulkadir Abu Lawal
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The study was carried out to establish the probability density function of some selected building construction projects of similar complexity delivered using Bill of Quantities (BQ) and Lump Sum (LS) forms of contract, and to draw a reliability scenario for each form of contract. 30 of such delivered projects are analyzed for each of the contract forms using Weibull Analysis, and their Weibull functions (α, and β) are determined based on their completion times. For the BQ form of contract delivered projects, α is calculated as 1.6737E20 and β as + 0.0115 and for the LS form, α is found to be 5.6556E03 and β is determined as + 0.4535. Using these values, respective probability density functions are calculated and plotted, as handy tool for risk analysis of future projects of similar characteristics. By input of variables from other projects, decision making processes can be made for a whole project or its components using EVM Analysis in project evaluation and review techniques. This framework, as a quantitative approach, depends on the assumption of normality in projects completion time, it can help greatly in determining the completion time probability for veritable projects using any of the contract forms under consideration. Projects aspects that are not amenable to measurement, on the other hand, can be analyzed using fuzzy sets and fuzzy logic. This scenario can be drawn for different types of building construction projects, and using different suitable forms of contract in projects delivery.
Keywords: Building construction, Projects, Forms of contract, Probability density function, Reliability scenario.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7801305 Predicting Depth of Penetration in Abrasive Waterjet Cutting of Polycrystalline Ceramics
Authors: S. Srinivas, N. Ramesh Babu
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This paper presents a model to predict the depth of penetration in polycrystalline ceramic material cut by abrasive waterjet. The proposed model considered the interaction of cylindrical jet with target material in upper region and neglected the role of threshold velocity in lower region. The results predicted with the proposed model are validated with the experimental results obtained with Silicon Carbide (SiC) blocks.
Keywords: Abrasive waterjet cutting, analytical modeling, ceramics, microcutting and intergranular cracking.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12781304 Evaluating Complexity – Ethical Challenges in Computational Design Processes
Authors: J.Partanen
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Complexity, as a theoretical background has made it easier to understand and explain the features and dynamic behavior of various complex systems. As the common theoretical background has confirmed, borrowing the terminology for design from the natural sciences has helped to control and understand urban complexity. Phenomena like self-organization, evolution and adaptation are appropriate to describe the formerly inaccessible characteristics of the complex environment in unpredictable bottomup systems. Increased computing capacity has been a key element in capturing the chaotic nature of these systems. A paradigm shift in urban planning and architectural design has forced us to give up the illusion of total control in urban environment, and consequently to seek for novel methods for steering the development. New methods using dynamic modeling have offered a real option for more thorough understanding of complexity and urban processes. At best new approaches may renew the design processes so that we get a better grip on the complex world via more flexible processes, support urban environmental diversity and respond to our needs beyond basic welfare by liberating ourselves from the standardized minimalism. A complex system and its features are as such beyond human ethics. Self-organization or evolution is either good or bad. Their mechanisms are by nature devoid of reason. They are common in urban dynamics in both natural processes and gas. They are features of a complex system, and they cannot be prevented. Yet their dynamics can be studied and supported. The paradigm of complexity and new design approaches has been criticized for a lack of humanity and morality, but the ethical implications of scientific or computational design processes have not been much discussed. It is important to distinguish the (unexciting) ethics of the theory and tools from the ethics of computer aided processes based on ethical decisions. Urban planning and architecture cannot be based on the survival of the fittest; however, the natural dynamics of the system cannot be impeded on grounds of being “non-human". In this paper the ethical challenges of using the dynamic models are contemplated in light of a few examples of new architecture and dynamic urban models and literature. It is suggested that ethical challenges in computational design processes could be reframed under the concepts of responsibility and transparency.Keywords: urban planning, architecture, dynamic modeling, ethics, complexity theory.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18891303 Generalized Exploratory Model of Human Category Learning
Authors: Toshihiko Matsuka
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One problem in evaluating recent computational models of human category learning is that there is no standardized method for systematically comparing the models' assumptions or hypotheses. In the present study, a flexible general model (called GECLE) is introduced that can be used as a framework to systematically manipulate and compare the effects and descriptive validities of a limited number of assumptions at a time. Two example simulation studies are presented to show how the GECLE framework can be useful in the field of human high-order cognition research.Keywords: artificial intelligence, category learning, cognitive modeling, radial basis functions.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13841302 E-government Security Modeling: Explaining Main Factors and Analysing Existing Models
Authors: N. Alharbi
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E-government is becoming more important these days. However, the adoption of e-government is often slowed down by technical and non-technical security factors. Nowadays, there many security models that can make the e-government services more secure. This paper will explain the main security factors that affected the level of e-government security. Moreover, it will also analyse current existing models. Finally, the paper will suggest a comprehensive security model that will contain most of technical and non-technical factors.
Keywords: E-government, technical, non-technical, security model.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20721301 Average Current Estimation Technique for Reliability Analysis of Multiple Semiconductor Interconnects
Authors: Ki-Young Kim, Jae-Ho Lim, Deok-Min Kim, Seok-Yoon Kim
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Average current analysis checking the impact of current flow is very important to guarantee the reliability of semiconductor systems. As semiconductor process technologies improve, the coupling capacitance often become bigger than self capacitances. In this paper, we propose an analytic technique for analyzing average current on interconnects in multi-conductor structures. The proposed technique has shown to yield the acceptable errors compared to HSPICE results while providing computational efficiency.Keywords: current moment, interconnect modeling, reliability analysis, worst-case switching
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13861300 Techno-Economic Analysis Framework for Wave Energy Conversion Schemes under South African Conditions: Modeling and Simulations
Authors: Siyanda S. Biyela, Willie A. Cronje
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This paper presents a desktop study of comparing two different wave energy to electricity technologies (WECs) using a techno-economic approach. This techno-economic approach forms basis of a framework for rapid comparison of current and future technologies. The approach also seeks to assist in investment and strategic decision making expediting future deployment of wave energy harvesting in South Africa.Keywords: Cost of energy, tool, wave energy converter, WEC-Sim.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12091299 DEVS Modeling of Network Vulnerability
Authors: Hee Suk Seo, Tae Kyung Kim
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As network components grow larger and more diverse, and as securing them on a host-by-host basis grow more difficult, more sites are turning to a network security model. We concentrate on controlling network access to various hosts and the services they offer, rather than on securing them one by one with a network security model. We present how the policy rules from vulnerabilities stored in SVDB (Simulation based Vulnerability Data Base) are inducted, and how to be used in PBN. In the network security environment, each simulation model is hierarchically designed by DEVS (Discrete EVent system Specification) formalism.Keywords: SVDB, PBN, DEVS, Network security.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15681298 Techniques for Reliability Evaluation in Distribution System Planning
Authors: T. Lantharthong, N. Phanthuna
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This paper presents reliability evaluation techniques which are applied in distribution system planning studies and operation. Reliability of distribution systems is an important issue in power engineering for both utilities and customers. Reliability is a key issue in the design and operation of electric power distribution systems and load. Reliability evaluation of distribution systems has been the subject of many recent papers and the modeling and evaluation techniques have improved considerably.Keywords: Reliability Evaluation, Optimization Technique, Reliability Indices
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 45651297 Characterization of Indoor Power Lines as Data Communication Channels Experimental Details and Results
Authors: Sheroz Khan, A. F. Salami, W. A. Lawal, AHM Zahirul Alam, Shihab Abdel Hameed, M. J. E.Salami
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In this paper, a multi-branch power line is modeled using ABCD matrix to show its worth as a communication channel. The model is simulated using MATLAB in an effort to investigate the effects of multiple loading, multipath, and those as a result of load mismatching. The channel transfer function is obtained and investigated using different cable lengths, and different number of bridge taps under given loading conditions.
Keywords: Power line Communication, Transfer Function, Channel Modeling, Signal Transmission.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19301296 The Effect of Innovation Factors to Customer Loyalty by Structural Equation Model
Authors: M. Dachyar, Fatkhurrohman
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Innovation is being view from four areas of innovation, product, service, technology, and marketing. Whereas customer loyalty is composed of customer expectation, perceived quality, perceived value, corporate image, customer satisfaction, customer trust/confidence, customer commitment, customer complaint, and customer loyalty. This study aimed to investigate the influence of innovation factors to customer loyalty to GSM in the telecom companies where use of products and services. Structural Equation Modeling (SEM) using to analyze innovation factors. It was found the factor of innovation have significant influence on customer loyalty.Keywords: Innovation, telecommunication, customer loyalty, SEM
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 34281295 Computational Analysis of the MembraneTargeting Domains of Plant-specific PRAF Proteins
Authors: Ewa Wywial, Shaneen M. Singh
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The PRAF family of proteins is a plant specific family of proteins with distinct domain architecture and various unique sequence/structure traits. We have carried out an extensive search of the Arabidopsis genome using an automated pipeline and manual methods to verify previously known and identify unknown instances of PRAF proteins, characterize their sequence and build 3D structures of their individual domains. Integrating the sequence, structure and whatever little known experimental details for each of these proteins and their domains, we present a comprehensive characterization of the different domains in these proteins and their variant properties.
Keywords: PRAF proteins, homology modeling, Arabidopsisthaliana
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14141294 Equilibrium Modeling of Carbon Dioxide Adsorption on Zeolites
Authors: Alireza Behvandi, Somayeh Tourani
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High pressure adsorption of carbon dioxide on zeolite 13X was investigated in the pressure range (0 to 4) Mpa and temperatures 298, 308 and 323K. The data fitting is accomplished with the Toth, UNILAN, Dubinin-Astakhov and virial adsorption models which are generally used for micro porous adsorbents such as zeolites. Comparison with experimental data from the literature indicated that the virial model would best determine results. These results may be partly attributed to the flexibility of the virial model which can accommodate as many constants as the data warrants.Keywords: adsorption models, zeolite, carbon dioxide
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 28821293 Mathematical Modelling for Separation of Binary Aqueous Solution using Hollow Fiber Reverse Osmosis Module
Authors: Anil Kumar, S. Deswal
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The mathematical equation for Separation of the binary aqueous solution is developed by using the Spiegler- Kedem theory. The characteristics of a B-9 hollow fibre module of Du Pont are determined by using these equations and their results are compared with the experimental results of Ohya et al. The agreement between these results is found to be excellent.Keywords: Binary aqueous solution, modeling, reverse osmosis module, Spiegler-Kedem theory.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16411292 Systematic Examination of Methods Supporting the Social Innovation Process
Authors: Mariann Veresne Somosi, Zoltan Nagy, Krisztina Varga
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Innovation is the key element of economic development and a key factor in social processes. Technical innovations can be identified as prerequisites and causes of social change and cannot be created without the renewal of society. The study of social innovation can be characterised as one of the significant research areas of our day. The study’s aim is to identify the process of social innovation, which can be defined by input, transformation, and output factors. This approach divides the social innovation process into three parts: situation analysis, implementation, follow-up. The methods associated with each stage of the process are illustrated by the chronological line of social innovation. In this study, we have sought to present methodologies that support long- and short-term decision-making that is easy to apply, have different complementary content, and are well visualised for different user groups. When applying the methods, the reference objects are different: county, district, settlement, specific organisation. The solution proposed by the study supports the development of a methodological combination adapted to different situations. Having reviewed metric and conceptualisation issues, we wanted to develop a methodological combination along with a change management logic suitable for structured support to the generation of social innovation in the case of a locality or a specific organisation. In addition to a theoretical summary, in the second part of the study, we want to give a non-exhaustive picture of the two counties located in the north-eastern part of Hungary through specific analyses and case descriptions.
Keywords: Factors of social innovation, methodological combination, social innovation process, supporting decision-making.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6541291 Analytical Modeling of Globular Protein-Ferritin in α-Helical Conformation: A White Noise Functional Approach
Authors: Vernie C. Convicto, Henry P. Aringa, Wilson I. Barredo
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This study presents a conformational model of the helical structures of globular protein particularly ferritin in the framework of white noise path integral formulation by using Associated Legendre functions, Bessel and convolution of Bessel and trigonometric functions as modulating functions. The model incorporates chirality features of proteins and their helix-turn-helix sequence structural motif.Keywords: Globular protein, modulating function, white noise, winding probability.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19541290 Mathematical Modeling of the Influence of Hydrothermal Processes in the Water Reservoir
Authors: Alibek Issakhov
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In this paper presents the mathematical model of hydrothermal processes in thermal power plant with different wind direction scenarios in the water reservoir, which is solved by the Navier - Stokes and temperature equations for an incompressible fluid in a stratified medium. Numerical algorithm based on the method of splitting by physical parameters. Three dimensional Poisson equation is solved with Fourier method by combination of tridiagonal matrix method (Thomas algorithm).Keywords: thermal power plant, hydrothermal process, large eddy simulation, water reservoir
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16431289 Multiagent Systems Simulation
Authors: G. Balakayeva, A. Aktymbayeva
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In this paper, we consider components of discrete event imitating model, implementing a simulation model by using JAVA and performing an input analysis of the data and an output analysis of the simulation results. Was lead development of imitating model of mass service system with n (n≥1) devices of service. On the basis of the developed process of a multithreading simulated the distributed processes with presence of synchronization. Was developed the algorithm of event-oriented simulation, was received results of system functioning with n devices of service.
Keywords: Imitating modeling, Mass service system, Multi agentsystem.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15891288 Contaminant Transport Modeling Due to Thermal Diffusion Effects with the Effect of Biodegradation
Authors: Nirmala P. Ratchagar, S. Senthamilselvi
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The heat and mass transfer characteristics of contaminants in groundwater subjected to a biodegradation reaction is analyzed by taking into account the thermal diffusion (Soret) effects. This phenomenon is modulated mathematically by a system of partial differential equations which govern the motion of fluid (groundwater) and solid (contaminants) particles. The numerical results are presented graphically for different values of the parameters entering into the problem on the velocity profiles of fluid, contaminants, temperature and concentration profile.Keywords: Heat and mass transfer, Soret number, porous media.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16181287 A Survey on Hyperbolic Cooling Towers
Authors: E. Asadzadeh, M. Alam
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This study offers a comprehensive review of the research papers published in the field of cooling towers and gives an insight into the latest developments of the natural draught cooling towers. Different modeling, analysis and design techniques are summarized and the challenges are discussed. The 118 references included in this paper are mostly concentrated on the review of the published papers after 2005. The present paper represents a complete collection of the studies done for cooling towers and would give an updated material for the researchers and design engineers in the field of hyperbolic cooling towers.
Keywords: Hyperbolic cooling towers, earthquakes, wind, nonlinear behavior, buckling, collapse, interference.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 39861286 Modeling of Titanium Alloy Implant for Fractured Distal Femur
Authors: Abhishek Soni, Bhagat Singh
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In the present work, reverse engineering (RE) approach has been used to create a 3D model of a fractured femur bone using the computed tomography (CT) scan data. Thereafter, counter fit fixation plates of Titanium alloy (Ti6Al4V) have been designed and analyzed considering physiological static loading conditions. From the analysis, it has been inferred that the stresses and deformation developed are quite low. It implies that these designed customized fixation plates are able to provide stable fixation resulting in improved fracture union.Keywords: Biomechanical evaluations, customized implant, reverse engineering, titanium alloy.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7181285 Environmental Management of the Tanning Industry's Supply Chain: An Integration Model from Lean Supply Chain, Green Supply Chain, Cleaner Production and ISO 14001:2004
Authors: N. Clavijo Buriticá, L. M. Correa Lópezand J. R., Sánchez Rodríguez
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The environmental impact caused by industries is an issue that, in the last 20 years, has become very important in terms of society, economics and politics in Colombia. Particularly, the tannery process is extremely polluting because of uneffective treatments and regulations given to the dumping process and atmospheric emissions. Considering that, this investigation is intended to propose a management model based on the integration of Lean Supply Chain, Green Supply Chain, Cleaner Production and ISO 14001-2004, that prioritizes the strategic components of the organizations. As a result, a management model will be obtained and it will provide a strategic perspective through a systemic approach to the tanning process. This will be achieved through the use of Multicriteria Decision tools, along with Quality Function Deployment and Fuzzy Logic. The strategic approach that embraces the management model using the alignment of Lean Supply Chain, Green Supply Chain, Cleaner Production and ISO 14001-2004, is an integrated perspective that allows a gradual frame of the tactical and operative elements through the correct setting of the information flow, improving the decision making process. In that way, Small Medium Enterprises (SMEs) could improve their productivity, competitiveness and as an added value, the minimization of the environmental impact. This improvement is expected to be controlled through a Dashboard that helps the Organization measure its performance along the implementation of the model in its productive process.
Keywords: Integration, environmental impact, management, systemic organization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20381284 Using Environmental Sensitivity Index (ESI) to Assess and Manage Environmental Risks of Pipelines in GIS Environment: A Case Study ofa Near Coastline and Fragile Ecosystem Located Pipeline
Authors: Jahangir Jafari, Nematollah Khorasani, Afshin Danehkar
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Having a very many number of pipelines all over the country, Iran is one of the countries consists of various ecosystems with variable degrees of fragility and robusticity as well as geographical conditions. This study presents a state-of-the-art method to estimate environmental risks of pipelines by recommending rational equations including FES, URAS, SRS, RRS, DRS, LURS and IRS as well as FRS to calculate the risks. This study was carried out by a relative semi-quantitative approach based on land uses and HVAs (High-Value Areas). GIS as a tool was used to create proper maps regarding the environmental risks, land uses and distances. The main logic for using the formulas was the distance-based approaches and ESI as well as intersections. Summarizing the results of the study, a risk geographical map based on the ESIs and final risk score (FRS) was created. The study results showed that the most sensitive and so of high risk area would be an area comprising of mangrove forests located in the pipeline neighborhood. Also, salty lands were the most robust land use units in the case of pipeline failure circumstances. Besides, using a state-of-the-art method, it showed that mapping the risks of pipelines out with the applied method is of more reliability and convenience as well as relative comprehensiveness in comparison to present non-holistic methods for assessing the environmental risks of pipelines. The focus of the present study is “assessment" than that of “management". It is suggested that new policies are to be implemented to reduce the negative effects of the pipeline that has not yet been constructed completelyKeywords: ERM, ESI, ERA, Pipeline, Assalouyeh
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21691283 Learning the Dynamics of Articulated Tracked Vehicles
Authors: Mario Gianni, Manuel A. Ruiz Garcia, Fiora Pirri
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In this work, we present a Bayesian non-parametric approach to model the motion control of ATVs. The motion control model is based on a Dirichlet Process-Gaussian Process (DP-GP) mixture model. The DP-GP mixture model provides a flexible representation of patterns of control manoeuvres along trajectories of different lengths and discretizations. The model also estimates the number of patterns, sufficient for modeling the dynamics of the ATV.Keywords: Dirichlet processes, Gaussian processes, robot control learning, tracked vehicles.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17811282 Hygric Performance of a Sandstone Wall Retrofitted with Interior Thermal Insulation
Authors: J. Maděra, M. Jerman, R. Černý
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Temperature, relative humidity and overhygroscopic moisture fields in a sandstone wall provided with interior thermal insulation were calculated in order to assess the hygric performance of the retrofitted wall. Computational simulations showed that during the time period of 10 years which was subject of investigation no overhygroscopic moisture appeared in the analyzed building envelope so that it performed in a satisfactory way from the hygric point of view.Keywords: Sandstone wall, interior thermal insulation, moisture, computational modeling.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15381281 Nonlinear Mathematical Model of the Rotor Motion in a Thin Hydrodynamic Gap
Authors: Jaroslav Krutil, František Pochylý, Simona Fialová
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The article presents two mathematical models of the interaction between a rotating shaft and an incompressible fluid. The mathematical model includes both the journal bearings and the axially traversed hydrodynamic sealing gaps of hydraulic machines. A method is shown for the identification of additional effects of the fluid acting on the rotor of the machine, both for a linear and a nonlinear model. The interaction is expressed by matrices of mass, stiffness and damping.Keywords: CFD modeling, hydrodynamic gap, matrices of mass, stiffness and damping, nonlinear mathematical model.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18401280 Measurement and Analysis of Human Hand Kinematics
Authors: Tamara Grujic, Mirjana Bonkovic
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Measurements and quantitative analysis of kinematic parameters of human hand movements have an important role in different areas such as hand function rehabilitation, modeling of multi-digits robotic hands, and the development of machine-man interfaces. In this paper the assessment and evaluation of the reachto- grasp movement by using computerized and robot-assisted method is described. Experiment involved the measurements of hand positions of seven healthy subjects during grasping three objects of different shapes and sizes. Results showed that three dominant phases of reach-to-grasp movements could be clearly identified.
Keywords: Human hand, kinematics, reach-to-grasp movement.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 37591279 Long-Term Deformations of Concrete Structures
Authors: A. Brahma
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Drying is a phenomenon that accompanies the hardening of hydraulic materials. This study is concerned the modelling of drying shrinkage of the hydraulic materials and the prediction of the rate of spontaneous deformations of hydraulic materials during hardening. The model developed takes consideration of the main factors affecting drying shrinkage. There was agreement between drying shrinkage predicted by the developed model and experimental results. In last we show that developed model describe the evolution of the drying shrinkage of high performances concretes correctly.Keywords: Drying, hydraulic concretes, shrinkage, modeling, prediction.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17771278 Indoor Mapping by using Smartphone Device
Authors: Shuib Rambat, Ruzsyahriman Jenal, John Elgy
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This paper presented the potential of smart phone to provide support on mapping the indoor asset. The advantage of using the smart phone to generate the indoor map is that it has the ability to capture, store and reproduces still or video images; indeed most of us do have this powerful gadget. The captured images usually used by maintenance team to save a record for future reference. Here, these images are used to generate 3D models of an object precisely and accurately for efficient and effective solution in data gathering. Thus, it could be a resource for an informative database in asset management.Keywords: 3D modeling, Asset Management, Object Extraction, Smart Device
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 27921277 Climate Related Financial Risk for Automobile Industry and Impact to Financial Institutions
Authors: S. Mahalakshmi, B. Senthil Arasu
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As per the recent changes happening in the global policies, climate related changes and the impact it causes across every sector are viewed as green swan events – in essence, climate related changes can happen often and lead to risk and lot of uncertainty, but need to be mitigated instead of considering them as black swan events. This brings about a question on how this risk can be computed, so that the financial institutions can plan to mitigate it. Climate related changes impact all risk types – credit risk, market risk, operational risk, liquidity risk, reputational risk and others. And the models required to compute this have to consider the different industrial needs of the counterparty, as well as the factors that are contributing to this – be it in the form of different risk drivers, or the different transmission channels or the different approaches and the granular form of data availability. This brings out to the suggestion that the climate related changes, though it affects Pillar I risks, will be a Pillar II risk. This has to be modeled specifically based on the financial institution’s actual exposure to different industries, instead of generalizing the risk charge. And this will have to be considered as the additional capital to be met by the financial institution in addition to their Pillar I risks, as well as the existing Pillar II risks. In this paper, we present a risk assessment framework to model and assess climate change risks - for both credit and market risks. This framework helps in assessing the different scenarios, and how the different transition risks affect the risk associated with the different parties. This research paper delves on the topic of increase in concentration of greenhouse gases, that in turn causing global warming. It then considers the various scenarios of having the different risk drivers impacting credit and market risk of an institution, by understanding the transmission channels, and also considering the transition risk. The paper then focuses on the industry that’s fast seeing a disruption: automobile industry. The paper uses the framework to show how the climate changes and the change to the relevant policies have impacted the entire financial institution. Appropriate statistical models for forecasting, anomaly detection and scenario modeling are built to demonstrate how the framework can be used by the relevant agencies to understand their financial risks. The paper also focuses on the climate risk calculation for the Pillar II capital calculations, and how it will make sense for the bank to maintain this in addition to their regular Pillar I and Pillar II capital.
Keywords: Capital calculation, climate risk, credit risk, pillar II risk, scenario modeling.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 422