Engineering Papers⌕ Search

SEARCH · Engineering Papers

Results for “Value at Risk”

Search indexed NASA NTRS and DOE OSTI research on propulsion, heat transfer, battery materials and energy systems. Follow report and document links to the original sources.

Quote a phrase for an exact phrase match. Source license links do not imply unrestricted reuse.

At least 55 records · Page 3
All sourcesNASA NTRSDOE OSTI
NASA NTRS2007

Application of Risk within Net Present Value Calculations for Government Projects

In January 2004, President Bush announced a new vision for space exploration. This included retirement of the current Space Shuttle fleet by 2010 and the development of new set of launch vehicles. The President's vision did not include significant increases in the NASA budget, so these development programs need to be cost conscious. Current trade study procedures address factors such as performance, reliability, safety, manufacturing, maintainability, operations, and costs. It would be desirable, however, to have increased insight into the cost factors behind each of the proposed system architectures. This paper reports on a set of component trade studies completed on the upper stage engine for the new launch vehicles. Increased insight into architecture costs was developed by including a Net Present Value (NPV) method and applying a set of associated risks to the base parametric cost data. The use of the NPV method along with the risks was found to add fidelity to the trade study and provide additional information to support the selection of a more robust design architecture.

Grandl, Paul R.↗
NASA NTRS2019

Valuing Rigor in the Risk Management Process

NASA, as an organization, takes risk management (RM) seriously, and for most projects, the risk management process is exemplar. There can be challenges, though, with defining RM processes. For example, many different risk analysis methodologies are available, they can be applied with varying degrees of rigor, and they can have different value depending on how projects use them. In particular, risk analysis methodologies vary considerably in the level of quantitative detail, with more probabilistic techniques encouraged in some situations. We discussed these processes and methodologies with ten project managers (PM) at the NASA Goddard Space Flight Center (GSFC). Our intent was not to prove with some level of statistical significance that some are more helpful than others, but rather to obtain a general understanding of how projects are identifying, and thinking, about risks. This paper describes some of the available risk processes and methodologies, and provides some insights about the benefits that can gained from their use. We provide an in-depth discussion of one quantitative methodology, Probabilistic Risk Assessments (PRAs), and conclude with a few insights from observed best practices.

Dillon, Robin L.↗
NASA NTRSDate not supplied

Data Driven UAM Flight Energy Consumption Prediction and Risk Assessment

With the current technological advancements revolutionizing the concept of Urban Air Mobility (UAM) and package delivery, there is also, a concurrent need to quantify the operational safety of these vehicles in terms of their associated risk. Conducting safe flight operations is critical for UAM vehicles which are electrically Vertical Takeoff and Landing (eVTOL) vehicles, to operate in current Air traffic control. In this paper, a data-driven method for UAM vehicle energy consumption prediction and risk quantification with conditional value-at-risk based on energy consumption distribution is presented. Significant factors affecting energy consumption, such as density altitude, aircraft design, airspeed, and collision avoidance algorithms, are considered in the data-driven based energy consumption prediction of different eVTOL

Data-driven↗
NASA NTRS2000

Commercial Off-The-Shelf (COTS) Program: Issues and Results of Upscreening COTS Parts for NASA Flight Hardware

This paper presents The Commercial Off-The-Shelf Program (COTS). The topics of discussion are: 1) Introduction of COTS; 2) MARS01 Program/Requirements; 3) MARS01 COTS Screening Flow; 4) Test Results-Electrical, C-Sam, Burn-In; 5) Value Added Analysis (Risk Reduction); 6) Value Added Analysis (Cost); 7) Impact of COTS ++ Screening; and 8) Summary. This paper is presented in viewgraph form.

Sandor, Mike↗
NASA NTRS1999

Electronic Packaging for Space Applications Workshop 1999

This paper presents viewgraphs on the Commercial Off-The-Shelf (COTS) Program. The topics include: 1) Advocacy for COTS; 2) MARS01 Program/Requirements; 3) MARS01 COTS Screening Flow; 4) Test Results-Electrical, C-Sam, Burn-In; 5) Value Added Analysis (Risk Reduction); 6) Value Added Analysis (Cost); 7) Impact of COTS ++ Screening and 8) Summary.

Sandor, Mike↗
NASA NTRS2016

Pitfalls and Precautions When Using Predicted Failure Data for Quantitative Analysis of Safety Risk for Human Rated Launch Vehicles

Launch vehicle reliability analysis is largely dependent upon using predicted failure rates from data sources such as MIL-HDBK-217F. Reliability prediction methodologies based on component data do not take into account risks attributable to manufacturing, assembly, and process controls. These sources often dominate component level reliability or risk of failure probability. While consequences of failure is often understood in assessing risk, using predicted values in a risk model to estimate the probability of occurrence will likely underestimate the risk. Managers and decision makers often use the probability of occurrence in determining whether to accept the risk or require a design modification. Due to the absence of system level test and operational data inherent in aerospace applications, the actual risk threshold for acceptance may not be appropriately characterized for decision making purposes. This paper will establish a method and approach to identify the pitfalls and precautions of accepting risk based solely upon predicted failure data. This approach will provide a set of guidelines that may be useful to arrive at a more realistic quantification of risk prior to acceptance by a program.

Hatfield, Glen S.↗
DOE OSTI2023

Interpreting Primal-Dual Algorithms for Constrained Multiagent Reinforcement Learning

Constrained multiagent reinforcement learning (C-MARL) is gaining importance as MARL algorithms find new applications in real-world systems ranging from energy systems to drone swarms. Most C-MARL algorithms use a primal-dual approach to enforce constraints through a penalty function added to the reward. In this paper, we study the structural effects of this penalty term on the MARL problem. First, we show that the standard practice of using the constraint function as the penalty leads to a weak notion of safety. However, by making simple modifications to the penalty term, we can enforce meaningful probabilistic (chance and conditional value at risk) constraints. Second, we quantify the effect of the penalty term on the value function, uncovering an improved value estimation procedure. We use these insights to propose a constrained multiagent advantage actor critic (C-MAA2C) algorithm. Simulations in a simple constrained multiagent environment affirm that our reinterpretation of the primal-dual method in terms of probabilistic constraints is effective, and that our proposed value estimate accelerates convergence to a safe joint policy.

chance constraints↗
DOE OSTI2024

Quantifying Investment Risk: Analysis of the Purchase Decision of a Nuclear Power Plant

Cost overruns are an ill-fated part of the deployment history of nuclear power plants (NPPs) in the United States, and yet studies increasingly show the important role nuclear technologies must play in decarbonizing the U.S. economy. Paradoxically, then, a key piece of a coherent decarbonization strategy depends on attracting investor action to a purchase where historical cost overruns have been sizeable. To address this challenge, this study aims to develop a financial model that quantifies risk of cost overruns in the decision-making process for purchasing advanced reactor concepts. Using the concept of Value at Risk (VaR), the model is built to evaluate financial risk nuclear construction with the aim to identify risk mitigation strategies. The objective is to identify strategies to mitigate cost-risk challenges and to assess the potential reduction in investor risk exposure. The paper presents the initial development and preliminary verification of the financial risk analysis model. The development of this model involved a comprehensive approach to estimating financial risk over the operating life of NPP that stems from construction uncertainties. By utilizing net present value (NPV) with discounted cash flows, the model captures the complex interconnections of project costs, construction timelines, revenue, and uncertainties. Verification of the model involved testing historical data from previous reactor construction projects against the construction project of Vogtle 3 and 4. The results of this paper present the comparison of the preconstruction cost overrun prediction with the current cost estimates from a nearly complete Vogtle 3 and 4.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
NASA NTRS1999

Fractal analysis of heart rate dynamics as a predictor of mortality in patients with depressed left ventricular function after acute myocardial infarction. TRACE Investigators. TRAndolapril Cardiac Evaluation

A number of new methods have been recently developed to quantify complex heart rate (HR) dynamics based on nonlinear and fractal analysis, but their value in risk stratification has not been evaluated. This study was designed to determine whether selected new dynamic analysis methods of HR variability predict mortality in patients with depressed left ventricular (LV) function after acute myocardial infarction (AMI). Traditional time- and frequency-domain HR variability indexes along with short-term fractal-like correlation properties of RR intervals (exponent alpha) and power-law scaling (exponent beta) were studied in 159 patients with depressed LV function (ejection fraction <35%) after an AMI. By the end of 4-year follow-up, 72 patients (45%) had died and 87 (55%) were still alive. Short-term scaling exponent alpha (1.07 +/- 0.26 vs 0.90 +/- 0.26, p <0.001) and power-law slope beta (-1.35 +/- 0.23 vs -1.44 +/- 0.25, p <0.05) differed between survivors and those who died, but none of the traditional HR variability measures differed between these groups. Among all analyzed variables, reduced scaling exponent alpha (<0.85) was the best univariable predictor of mortality (relative risk 3.17, 95% confidence interval 1.96 to 5.15, p <0.0001), with positive and negative predictive accuracies of 65% and 86%, respectively. In the multivariable Cox proportional hazards analysis, mortality was independently predicted by the reduced exponent alpha (p <0.001) after adjustment for several clinical variables and LV function. A short-term fractal-like scaling exponent was the most powerful HR variability index in predicting mortality in patients with depressed LV function. Reduction in fractal correlation properties implies more random short-term HR dynamics in patients with increased risk of death after AMI.

Non-NASA Center↗
DOE OSTI2022

CO 2 Pipeline risk assessment and comparison for the midcontinent United States

For this work, a comprehensive quantitative risk assessment for the construction and operation of CO 2 transportation networks considered for the Midcontinent United States was conducted. The results showed risks associated with CO 2 pipelines were significantly less than those of other pipeline types. The assessment used four conceptual pipelines of different lengths to discuss risks operators may see. The assessment evaluated the risk associated with construction and operation using data from the US Occupational Safety Health Administration to determine the risk of injury or death for pipeline workers and data from the US Pipeline and Hazardous Materials Safety Administration for CO 2 , natural gas distribution, natural gas transmission/gathering, and non-CO 2 hazardous liquid pipelines to develop quantitative likelihood and severity values leading to risk values. The data for the assessment covered incidents from 2010 to 2017 for CO 2 pipelines. The average risk for construction and 30 years of operation for four CO 2 pipeline configurations ranging between 79 and 1,546 miles in length was found. The construction and operational risk averaged between $\$1,400,521$ (approximately $\$0.02$/tonne of CO 2 ) for the shorter pipeline (79 miles) and $\$27,481,939$ (approximately $\$0.10$/tonne of CO 2 ) for a longer pipeline (1,546 miles). The largest risks of fatality for CO 2 pipelines comes from vehicle transport. The largest operational risk to the pipeline was due to leakage. Public pipeline opposition is also a significant risk; it was not quantified but is addressed.

03 NATURAL GAS↗
DOE OSTI2026

Hydropower Cybersecurity Risk Management and Valuation

Advancements to DOE WPTO funded Hydropower Cybersecurity Value-at-Risk Framework application allows stakeholder to translate risk-based assessments to quantitative scores allowing to better decision making for cybersecurity investments.

13 HYDRO ENERGY↗
NASA NTRS2011

Independent Review of U.S. and Russian Probabilistic Risk Assessments for the International Space Station Mini Research Module #2 Micrometeoroid and Orbital Debris Risk

The Mini-Research Module-2 (MRM-2), a Russian module on the International Space Station, does not meet its requirements for micrometeoroid and orbital debris probability of no penetration (PNP). To document this condition, the primary Russian Federal Space Agency ISS contractor, S.P. Korolev Rocket and Space Corporation-Energia (RSC-E), submitted an ISS non-compliance report (NCR) which was presented at the 5R Stage Operations Readiness Review (SORR) in October 2009. In the NCR, RSC-E argued for waiving the PNP requirement based on several factors, one of which was the risk of catastrophic failure was acceptably low at 1 in 11,100. However, NASA independently performed an assessment of the catastrophic risk resulting in a value of 1 in 1380 and believed that the risk at that level was unacceptable. The NASA Engineering and Safety Center was requested to evaluate the two competing catastrophic risk values and determine which was more accurate. This document contains the outcome of the assessment.

Squire, Michael D.↗
NASA NTRS2022

The Mass Change Designated Observable Study: Overview and Results

The 2017–2027 United States National Academy of Sciences Decadal Survey (DS) for Earth Science and Applications from Space identified Mass Change (MC) as one of five Designated Observables (DOs) having the highest priority in terms of Earth observations required to advance Earth system science over the next decade. In response to this designation, NASA initiated several multi-center studies, with the goal of recommending observing system architectures for each DO for implementation within this decade. This paper provides an overview of the Mass Change Designated Observable (MCDO) Study along with key findings. The study process included: (a) generation of a Science and Applications Traceability Matrix (SATM) that maps required measurement parameters to the DS Science and Applications Objectives; (b) identification of three architecture classes relevant for measuring mass change: Precise Orbit Determination (POD), Satellite-Satellite-Tracking (SST) and Gravity Gradiometry (GG), along with variants within each architecture class; and (c) creation of a Value Framework process that considers science value, cost, risk, schedule, and partnership opportunities, to identify and recommend high value observing systems for further in-depth study. The study team recommended the implementation of an SST architecture, and identified variants that simultaneously (a) satisfy the baseline measurement parameters of the SATM; (b) maximize the probability of providing overlap with the Gravity Recovery and Climate Experiment Follow-On (GRACE-FO) mission currently in operation, accelerating science return from both missions; and (c) provide a pathway towards substantial improvements in resolution and accuracy of mass change data products relative to the program of record.

D N Wiese↗
DOE OSTI2024

Security Constrained Distributed Transaction Model for Multiple Prosumers

Massive access of renewable energy has prompted demand-side distributed resources to participate in regulation and improve flexibility of power systems. With large-scale access of massive, decentralized, and diverse distributed resources, demand-side market members have transformed from traditional “consumers” to “prosumers”. To explore the distributed transaction model of prosumers, in this paper, a multi-prosumer distributed transaction model is proposed, and the Conditional Value-at-Risk (CVaR) theory is applied to quantify potential risks caused by the stochastic characteristics inherited from renewable energy. First, a prosumer model under constraints of the distribution network including photovoltaic units, fuel cells, energy storage system, central air conditioning and flexible loads is established, and a multi-prosumer distributed transaction strategy is proposed to achieve power sharing among multiple prosumers. Second, a prosumer transaction model based on CVaR is constructed to measure risks inherited from the uncertainty of PV output within the prosumer and ensure safety of system operation in extreme PV output scenarios. Then, the alternating direction multiplier method (ADMM) is utilized to solve the constructed model efficiently. Finally, distributed transaction costs of prosumers are distributed fairly based on the generalized Nash equilibrium to maximize social benefits. Simulation results show the multi-prosumer distributed transaction mechanism established under the proposed generalized Nash equilibrium method can encourage power sharing among prosumers, increasing their own income and social benefits. Also, the CVaR can assist decision making of prosumers in weighting the risks and benefits, improving system resilience through energy management of prosumers.

24 POWER TRANSMISSION AND DISTRIBUTION↗
DOE OSTI2024

Provable bounds for noise-free expectation values computed from noisy samples

Quantum computing has emerged as a powerful computational paradigm capable of solving problems beyond the reach of classical computers. However, today’s quantum computers are noisy, posing challenges to obtaining accurate results. Here, we explore the impact of noise on quantum computing, focusing on the challenges in sampling bit strings from noisy quantum computers and the implications for optimization and machine learning. We formally quantify the sampling overhead to extract good samples from noisy quantum computers and relate it to the layer fidelity, a metric to determine the performance of noisy quantum processors. Further, we show how this allows us to use the conditional value at risk of noisy samples to determine provable bounds on noise-free expectation values. We discuss how to leverage these bounds for different algorithms and demonstrate our findings through experiments on real quantum computers involving up to 127 qubits. The results show strong alignment with theoretical predictions.

97 MATHEMATICS AND COMPUTING↗
DOE OSTI2022

Fragility Functions Resource Report: Documented Sources for Electricity and Water Resilience Valuation

Fragility curves provide the vulnerability between hazard intensity and an asset. Federal installations may include many different electricity and water infrastructure types (or assets) such as generators, wind turbines, solar PV, switch yards, substations and power lines as well as water distribution systems that could be affected by different hazards. The vulnerability of each asset is a function of its age, type of materials and maintenance. In addition, the vulnerability changes with the hazards intensity and has a probability distribution function associated with it. The fragility functions are used in conjunction with hazard probability and consequence valuations to determine the values at risk for examination of investment grade analyses of alternative mitigation strategies. This document provides examples of fragility functions and links to their sources for different electricity and water infrastructure assets by hazard type.

24 POWER TRANSMISSION AND DISTRIBUTION↗
DOE OSTI2024

Quantifying Investment Risk: Analysis of the Purchase Decision of a Nuclear Power Plant (Presentation)

Cost overruns are an ill-fated part of the deployment history of nuclear power plants (NPPs) in the United States, and yet studies increasingly show the important role nuclear technologies must play in decarbonizing the U.S. economy. Paradoxically, then, a key piece of a coherent decarbonization strategy depends on attracting investor action to a purchase where historical cost overruns have been sizable. To address this challenge, this study aims to develop a financial model that quantifies the risk of cost overruns in the decision-making process for purchasing advanced reactor concepts. Using the concept of value at risk (VaR), the model is built to evaluate financial risk nuclear construction with the aim to identify risk mitigation strategies. The objective is to identify strategies to mitigate cost-risk challenges and assess the potential reduction in investor risk exposure. This paper presents the initial development and preliminary verification of the financial risk analysis model. The development of this model involved a comprehensive approach to estimating financial risk over the operating life of NPP that stems from construction uncertainties. By utilizing net present value (NPV) with discounted cash flows, the model captures the complex interconnections of project costs, construction timelines, revenue, and uncertainties. Verifying the model involved testing historical data from previous reactor construction projects against the construction project of Vogtle 3 and 4. This paper’s results present the comparison of the preconstruction cost overrun prediction with the current cost estimates from a nearly complete Vogtle 3 and 4.

22 GENERAL STUDIES OF NUCLEAR REACTORS↗