The methods developed for pricing interest rate options can be classified into two broad categories: (i) modeling the interest rate by modeling the factors that cause interest rate changes and (ii) modeling directly the probability density of the interest rate. Modeling directly the density of...

Projects are commonly over budget and behind schedule, to some extent because uncertainties are not accounted for in cost and schedule estimates. Research and practice is now addressing this problem, often by using Monte Carlo methods to simulate the effect of variances in work package costs and...

Probabilistic Risk Assessment is being increasingly used in a number of industries such as nuclear, aerospace, chemical process, to name a few. Probabilistic Risk Assessment (PRA) characterizes risk in terms of three questions: (1) What can go wrong? (2) How likely is it? (3) What are the...

Providing a defensible basis for allocating resources for critical infrastructure and key resource protection is an important and challenging problem. Investments can be made in countermeasures that improve the security and hardness of a potential target exposed to a security hazard, deterrence...

Adopting advanced information technologies within the present broad application fields requires precise security. However, security problems regarding information privacy have occurred frequently over the last 5 years despite the contribution of these technologies. To respond to the need for...

We study an order promising problem in a multiclass, available-to-promise (ATP) assembly system in the presence of <i>pseudo orders</i>. A pseudo order refers to a tentative customer order whose attributes, such as the likelihood of an actual order, order quantity, and confirmation timing, can change...