Determination of optimal placements of sensors/actuators in large structures is a difficult job as large number of possible combinations leads to a very high computational time and storage. Therefore, this kind of optimization problem demands a parallel implementation of the optimization schemes. Island model genetic algorithm (GA) being inherently parallel has been used for searching optimal placements of collocated sensors/actuators. Numerical simulations have been done for determination of optimal placements of collocated PZT sensors and actuators in smart fiber reinforced shell structures using island model parallel GA (IMPGA) in conjunction with electro-mechanical finite element analysis with an objective of maximizing the controllability index. It has been observed that the present IMPGA-based formulation (due to its migration scheme) not only makes it possible to determine optimal sensors/actuators locations for large structures but also leads to a better solution at a much reduced and achievable computational time. Results from scalability analysis also show that the efficacy of the present method of using IMPGA for determination of optimal sensors/actuators location based on FEA will be more pronounced when actually used for real life problems requiring large number of sensors and actuators.
In this paper we propose a Monte Carlo based approach to Risk Management. Our approach applies to any system subject to random uncorrelated losses under very general conditions. Our methodology consists of the following steps: model the distribution of losses and the distribution of time intervals between losses via an analysis of historical data; perform a Monte Carlo simulation of a finite period of time in the future; use the Monte Carlo data to estimate the 99.9% VaR.
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