Catalin Cioaca

THEORETICAL CONSIDERATIONS ON POSSIBLE INSURANCE OF DRONES AGAINST DAMAGE AND THEFT

The diversity of missions and drones use areas has led to the development of their performance and thus the increasing the risks to which they are subjected. Material damage, which may be suffered or caused by drones due to risk manifestation, can reach high values, so it is recommended an optional insurance of drones from damage and theft.

Aerial Infrared Thermography: A Scalable Procedure for Photovoltaics Inspections Based on Efficiency and Flexibility

The objective of this contribution is to explore innovative ways to increase the efficiency of large scale photovoltaic systems (LSPVS) in the medium term through effective management of operating, monitoring and maintenance (OMM) costs based on aerial surveillance with small multi-rotor flight robot (s-MRFR). An effective solution of OMM cost assessment must capture the dynamic interaction between energy market developments, technological progress and investor tolerance to the risk posed by climate changes. The valuation method for OMM cost-risk analysis is based on generalized Wiener process with stochastic jumps. The interest is to increase the value of the investment by using innovative but efficient procedures of PV systems inspection based on aerial infrared thermography. The results are encouraging because the total costs of s-MRFR monitoring are very low compared to the benefits.

Model of Assessing the Impact of Rare Events in Aviation Security Investments Projects

The problem of optimal dynamic allocation of resources in security should be built in such a manner to include the impact assessment of rare events, such as natural or asymmetric extreme events. This paper presents a model for the analysis of investment situations that involves real options with multiple sources of jump risk and identification of management solutions that increase the value of the investment opportunity using Wiener processes and Poisson distribution. The results are solutions for improved decision-making in aviation systems.

Applications of Real Options Analysis in Aviation Security Investments

The interest upon real options method amplified in the last decade due to the higher level of uncertainty faced by some organizations (from the private and also the public sector) when the decision to make a strategic investment is required (in a competitive environment) or it is a external requirement of the organizational environment (ensuring security standards). The process of assessment of the option is developed by evaluating the potential benefits associated with the three possible scenarios under expansion, contract and wait options. The value of the real option is the result of the fuzzy mean. The possibility of obtaining values for each option permits the management to compare and choose the best decisions for efficient investment. The evaluation and investment planning aims to make better use of funds by reducing operating costs and uncertainty for potential gains and substantiate predictions about the performance of the strategy.

Emerging Solutions in Modeling of Asymmetric Threats Regarding the Aeronautical System

This paper concentrates on the practical applications of game theory in the field of aviation security system. The purpose of this analysis is to demonstrate the use of mathematical device in an interactive decision-making environment in order to analyze real-world problems: terrorism threats. Making the link between game theory and linear programming effectively supports the decision making process in resolving conflict situations that may arise between the attacker aviation system, situations which are characterized by low probability of occurrence and serious consequences. Modeling such phenomena as a result has a systematic and effective risk assessment of such attacks. To demonstrate this approach, two simple examples of a terrorist attack against an airport infrastructure are modeled and analyzed.

Considerations on Decisions Making Process under the Risk of Terrorism

This paper offers a decision making process based on terrorism risk. The purpose of the model is to support effective decision making in order to involve multiple potential targets and countermeasure alternatives. Because of the complexity of the issues and the posible catastrophic consequences of a terrorist attack, it is necesary to use an analytical tool to detect, assess, warn, response, and recovery the critical infrastructure. The perspective taken is that in order to establish priorities for threats and vulnerabilities and to identify and evaluate options for action.