BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Talks.cam//talks.cam.ac.uk//
X-WR-CALNAME:Talks.cam
BEGIN:VEVENT
SUMMARY:Conditional-Value-at-Risk Estimation with Reduced-Order Models - B
 oris Kramer (Massachusetts Institute of Technology)
DTSTART:20180308T140000Z
DTEND:20180308T144500Z
UID:TALK102241@talks.cam.ac.uk
CONTACT:INI IT
DESCRIPTION:We present two reduced-order model based approaches&nbsp\; for
  the efficient and accurate evaluation of the Conditional-Value-at-Risk&nb
 sp\; (CVaR) of quantities of interest (QoI) in engineering systems with un
 certain parameters.&nbsp\; CVaR is used to model objective or constraint f
 unctions in risk-averse engineering design and optimization applications u
 nder uncertainty.&nbsp\; Estimating the CVaR of the QoI is expensive. Whil
 e the distribution of the uncertain system parameters is known\, the resul
 ting QoI is a random variable that is implicitly determined via the state 
 of the system. Evaluating the CVaR of the QoI requires&nbsp\; sampling in 
 the tail of the QoI distribution and typically requires&nbsp\; many soluti
 ons of an expensive full-order model of the engineering system. Our reduce
 d-order model approaches substantially reduce this computational expense.
LOCATION:Seminar Room 1\, Newton Institute
END:VEVENT
END:VCALENDAR