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Operations Research, Systems Engineering and Industrial Engineering Commons

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Series

2011

Old Dominion University

Engineering Management & Systems Engineering Faculty Publications

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Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering

Emerging M&S Application In Risk Management, C. Ariel Pinto, Andreas Tolk, Michael Mcshane Jan 2011

Emerging M&S Application In Risk Management, C. Ariel Pinto, Andreas Tolk, Michael Mcshane

Engineering Management & Systems Engineering Faculty Publications

There has been compelling signs of the great potential of building further synergy with academics, researchers, and industry practitioners from the areas of Modeling and Simulation (M&S) managing risk events. This paper provides an introduction to risk management and how M&S has permeated the risk management process. The trend has been to harness the advantages of M&S tools and techniques in terms of efficiency and effectiveness in managing risks. However, the more important contribution of M&S may be in how it provides a way for specialists in various disciplines or industries interact to manage risks that ...