International Center for Decision and Risk Analysis


International Center for Decision and Risk Analysis

Risk Management is a growing and highly-relevant field of study. While probability and statistics are the primary quantitative techniques of Risk Management, there are many other techniques (such as optimization, decision theory, control theory, and game theory) which play an essential role in managing risk. The goal is to build the knowledge and application of such techniques with attention to the interdisciplinary aspects. The mission is to develop Risk Management as a comprehensive scientific discipline that provides methods, concepts and techniques to deal with uncertainties in decision-making.

What We Do

The research at ICDRiA primarily involves risk management related to industrial projects involving new technology, new applications and markets, and large investments. These projects are funded by commercial markets, such as telecommunications, automotive and pharmaceutical industries, or by the public sector such as defense, space and energy.

Our approach is to develop relevant models—validated by practitioners—to derive concepts and results which help to understand the impact of uncertainties. We provide useful, tested tools for mitigating risks and decision-making. We focus on the situation of several players, with various possibilities of rules of game.

  • Connect with the Director
  • Research Partners
  • Advisory Board and Affiliates
  • iCDRiA Resources

One can see that Risk and Decision Analysis is a comprehensive emerging new discipline in full development, and our objective at ICDRiA is to be a major contributor to its progress. We do so by leveraging the large expertise in Operations Management, Information Systems and Finance among others in the Jindal School of Management and by cooperating with other schools at UT Dallas (in particular the School of Engineering), other universities, government agencies and industry counterparts.

We currently develop research in the following domains:

  • Risk in Cybersecurity
  • Risk and Uncertainty in Alternative Energies
  • Risk in Financial and Economic Decisions
  • Risk and Uncertainty in Supply Chain
  • Risk in Information Systems
  • Risk in Engineering

Alain Bensoussan, PhD

Director, ICDRiA

Sumit Sarkar, PhD

Academic Director, ICDRiA

Current Projects

Title: Optimization of Wind Farms and Solar Plant Facilities
Sponsor: EREN GROUPE
Economie des Ressources Naturelles, EREN, current objective is to make reliable and competitive technologies available in order to utilize natural resources more efficiently. EREN Groupe and ICDRiA has joined efforts in research on optimization of wind farms and solar plants facilities.

Title: Optimization of Wind Farms and Solar Plant Facilities
Sponsor: NSF
September 1, 2013, The National Science Foundation (NSF) approved a 3 year grant with financial support for “Mean Field Games, Mean Field Type Control and Extensions.”

Title: TC: Large: Collaborative Research: Privacy-Enhanced Secure Data Provenance
Sponsor: NSF
June 1, 2011, The National Science Foundation approved a 5 year grant with financial support for “TC: Large: Collaborative Research: Privacy-Enhanced Secure Data Provenance.”

Previous Partners

  • EDF, is the world’s leading nuclear energy company with a focus on investment in sustainable industrial growth. ICDRiA and EDF partner on a research project focused on uncertainties in wind energy.
  • The CEA is a leader in research, development and innovation, the CEA has interests in the domain of risk analysis and is currently supporting ICDRiA’s research and projects on the ruin of structures.
  • Blueline/Rediform is one of Canada’s largest producers of business forms, planners and accounting supplies. Blueline/Rediform partnered with the International Center for Decision and Risk Analysis (ICDRiA) for research focused on forecasting demand and optimal ordering.
  • EADS, the European leader in aeronautics, defense and space, partners with the center to provide concrete experience on risk management in projects involving highly innovative technology.
  • HP (EDS), a leader in the information technology industry, provided ICDRiA with industry experience in risk management approaches.
  • Essilor, the world’s leading provider of eyeglass lenses, provided ICDRiA with concrete problems in supply chain management and treatment of uncertainties.
  • ESA, the European counterpart to NASA and leader in risk management standards for space missions agency supported ICDRiA in risk analysis studies.
  • FX-Conseil, a subsidiary of Fondation de l’Ecole Polytechnique, is in charge of promoting research and transfer. Through the support of the French Ministry of Research, FX-Conseil provided ICDRIA with support for risk management research and consulting.
  • Future Wei, a dynamic new player in the field of telecommunications from China, provided ICDRiA with interesting and concrete problems related to the company’s specific risks and challenges.
  • The National Science Foundation (NSF) provided support to ICDRiA from 2005 to 2009 for research related to inventory control with partial observations and inspections. From 2007 to 2011, NSF supported research related to the ruin of mechanical structures subjected to vibrations. This project was jointly supported by the Hungarian Academy of Sciences.
  • Texas Instruments (TI) has a longstanding partnership with UT Dallas. TI has members on ICDRiA’s advisory board and has a strong interest in the center’s research concerning inventory management with partial information.
  • Center for Intelligent Supply Networks (C4ISN) is a research center within the UTDallas School of Management and partners with ICDRiA on projects related to risks in supply chain management.

Industry Members

  • Robert Barnett
  • Rob Bergeron, TRWD/DWU Integrated Pipeline Project
  • Aditya Bhaiji, Comerica
  • Dennis Black, VP, Model Development, Comerica
  • John Carrier, Deputy CEO for R& D
  • Jean-Marc Chemla, Financial Advisor, CRPC
  • Nirmala Adhikari Devkota, VP, Enterprise Risk, Model Development Officer,Comerica
  • Bishoram Guragai
  • Monty Humble, Managing Director
  • Sudhanshu Jain, Transaction Services
  • David Kohl , CPCU
  • Bill Krenikn, CTO – TI – High Volume Linear Products
  • Tahar Mjigal, Technical Analyst and Risk Manager, ICMC and GARP
  • Ashok Mukherjee, Director, Modria Inc.
  • Laslo Olah, President/CEO
  • Daniel Parry, Chief Credit Officer
  • Arun Ratnam, Independent Professional Mgmt
  • Ray Russo , Civil Works Integration Division
  • David Shaw, Sr. Vice President – Astrapi Exponential Communications
  • Yoram Solomon, Vice President, Corporate Strategy & Business Development
  • Laura Stark, Stark Energy Econ, LLC
  • Vinod Sutaria , VP Operational Risk Mgr Comerica
  • Greg Turin, Valspar
  • Jean Paul Vignal , Partner
  • Chris White, Director of Development/ViaSim Solutions

UT Dallas Academic Members

Affiliates

  • Charles Tapiero
  • Leung Lung Chan
  • Nadir Farhi
  • Hector Jasso-Fuentes
  • Celine Ho
  • Arash Komaee
  • Laslo Kovacs
  • Andrew Royal
  • Ioane Muni Toke
  • Jens Voelgesang
  • Tridib Bandopadhyay
  • Karthik Chandrasekaran
  • Anshuman Chutani
  • Nagihan Comez
  • Emre Demirel
  • Zoltan Dombovari
  • Qi (Annabelle) Feng
  • Arash Komaee
  • Attila Kossa
  • Laurent Mertz
  • Lama Moussawi
  • Ruixia Shi
  • Denes Takacs
  • Ambrus Zelei
  • Xuying (Daisy) Zhao
  • Nathan Glatt-Holtz
  • Zhong Feng Yan

Students

  • Meng Li
  • Shaokuan Chen
  • Sandun Perera
  • Sonny Skaaning

Visitors/Posters

  • Prof Huaming Song
  • Prof Laurent Mertz
  • Dr. Benoit Chevalier-Roignant
  • Prof Ming Zhou

Invitees

  • Alexandre Brouste, University of Maine, Le Mans, FRANCE
  • Sonny Skaaning, Student
  • Bharadwaj Kadiyala, Student
  • Shaokuan Chen, Student
  • Dayou Cheng, Visiting Scholar
  • P. Jameson Graber, Visiting Scholar
  • Jun Lim Koo, Visiting Scholar
  • Karen Decker

Activity Reports

The Activity Report is an annual account of the research projects, education programs, and progress at ICDRiA. For inquiries, please contact Karen Decker.

Presentations

The following presentations are resources from talks given by ICDRiA affiliates and guest lecturers. If you are seeking material from a talk which is not posted below, please contact Karen Decker.

News Archive

  • July 2014 Recipient of the SIAM “W.T. & Idalia Reid Prize for 2014

  • September 2013 Appointed as “Fellow” status by AMS

  • June 11, 2011 ICDRiA Renews Contract with a Leading European Research Institution

    RICHARDSON, Texas (June 11, 2011)—ICDRiA is awarded a renewed contract with CEA, the French Alternative Energies and Atomic Energy Commission (Commissariat à l’énergie atomique et aux énergies alternatives). The partnership between ICDRiA and CEA began in 2005 and is now extended through 2013.

    The CEA is active in four main areas: low-carbon energies, defense and security, information technologies and health technologies. In each of these fields, the CEA maintains a cross-disciplinary culture of engineers and researchers, building on the synergies between fundamental and technological research.

    The research performed at ICDRiA is related to seismic risk on structures such as nuclear power facilities. Several PhD and post-doctoral researchers have been supported under this project and are now anticipating the continuation of critical collaboration with engineers at CEA.

  • February 1, 2011 ICDRiA to Study Uncertainties in Wind-power Production

    RICHARDSON, Texas (February 1, 2011)—ICDRiA recently signed a contract with Électricité de France (EDF) to study uncertainties related to wind-power production. ICDRiA researchers will use their expertise to model randomness and forecasting.

    EDF is France’s second largest utility company and the world’s leading nuclear energy company. The contract will run through 2013.

  • November 30, 2010 ICDRiA Welcomes New Director of Development

    RICHARDSON, Texas (November 30, 2010)—J. Chris White has joined The International Center for Decision and Risk Analysis (ICDRiA) in the School of Management at The University of Texas at Dallas. Mr. White is President of ViaSim Solutions and will serve as ICDRiA’s Director of Development.

    Mr. White brings extensive experience in Risk Management to ICDRiA. He served as Vice President of Operational Risk Management at Bank of America, where he developed models and simulations to help the bank understand the short-term and long-term risks associated with strategic decisions. He was also Director of Program Management at Decision Dynamics, Inc. (DDI), where he developed several program management (PM) simulation tools for the defense acquisition community under the Small Business Innovative Research (SBIR) program and commercial ventures.

    Mr. White’s role at ICDRiA is to establish industry contacts in Dallas-Fort Worth area. The Director of ICDRiA, Dr. Alain Bensoussan, stated, “[Mr. White’s] expertise fits particularly well with the goals of the center, and we are pleased he has accepted the position. ICDRiA continues to grow, and Chris’ efforts are very important for building on this momentum.”

  • March 17, 2010 International Research Forum to Focus on Lessons from the Global Financial Crisis

    RICHARDSON, Texas (March 17, 2010)— The International Center for Decision and Risk Analysis (ICDRiA) is partnering with the international community to organize a research forum hosted at Hong Kong Polytechnic University in Hong Kong, China, from December 15 to 17, 2010. The forum, titled “What can the Academic Community learn from the global crisis?” is intended to encourage scientists to look at the global crisis as an opportunity as well as a necessity for the evolution of models, concepts and transfer actions.

    “The cooperation between economists and mathematicians is a key factor to accomplish an understanding of the new situation arising from the global crisis. The Academic Community has to draw lessons from the global crisis and stir its own evolution for the benefit of our societies. This forum is an example of the will to be proactive and to fulfill our commitments to our stakeholders, in particular, our students,” says Dr. Alain Bensoussan, Director of ICDRiA.

    New York University, College de France, INRIA, and Shandong University are among the institutions that joined Hong Kong Polytechnic University, the University of Texas at Dallas and Ajou University to sponsor the research forum.

    IOS Press will publish a special issue of the journal Risk and Decision Analysis devoted to articles resulting from the forum.

  • October 30, 2009 ICDRiA Signs International Research Agreement

    RICHARDSON, Texas (October 30, 2009)— A tri-lateral agreement has been signed between ICDRiA, ICMS (the International Center for Maritime Studies) in Hong Kong PolyU and the WCUP-GDFE (World Class University Project and Graduate Department of Financial Engineering) in Ajou University. This agreement is endorsed by the three Deans to whom these centers report.

    The research centers will operate in a decentralized way with each location contributing their expertise to the three common activities among the centers: Real Options and uncertainties in investment decisions, Mutual Insurance, and, Alternative Energies. The centers will exchange students and visiting researchers for collaboration on the research programs.

    Dr. Alain Bensoussan, Director of ICDRiA, stated, “This initiative has been supported by the schools because it fits well with the need to network research and education activities due to globalization. The advancement of knowledge must be recognized at a global level and the problems we are facing incorporate substantial global aspects.”

  • May 1, 2009 ICDRIA Energy/Water Appropriations Request for 2010

    Please visit Eddie Bernice Johnson for details.

  • April 21, 2008 ICDRiA Completes Research for Blueline/Rediform

    RICHARDSON, Texas (April 21, 2008)—The International Center for Decision and Risk Analysis (ICDRiA) has announced completion of a successful collaboration between Blueline/Rediform and ICDRiA within The UT Dallas School of Management. The project focused on research in forecasting demand and optimal ordering. Blueline/Rediform is currently employing techniques developed at ICDRiA and has hired UT Dallas graduate student Greg Turi who worked on the project.

    News Contact: Patricia Schoch, UT Dallas (972) 883-6298, pschoch@utdallas.edu

  • April 21, 2008 ICDRIA Awarded Additional Funding from Two International Partners

    RICHARDSON, Texas (April 21, 2008)—EADS North America, Inc., a leading aerospace and defense company, and the European Space Agency (ESA) have awarded additional funding to the International Center for Decision and Risk Analysis (ICDRiA) at The UT Dallas School of Management.

    EADS and ESA are long-time supporters of ICDRiA, providing substantial funding soon after ICDRiA’s inception in the fall of 2004. EADS will provide an additional $24,000 and ESA will provide €20,000 ($31,602) to continue study of risk and decision analysis topics related to their organization.

  • April 21, 2008 ICDRIA Awarded Additional Funding from Two International Partners

    RICHARDSON, Texas (April 21, 2008)—The National Science Foundation (NSF) has provided an additional award of $30,000 to the International Center for Decision and Risk Analysis (ICDRiA) at The UT Dallas School of Management in support of international collaboration on risk analysis research related to the effects of vibration on mechanical structures.

    The funding is matched by OTKA, the Hungarian counterpart of NSF, through the U.S.-Hungarian Cooperative Research Program. During the summer of 2008, Hungarian scientists will visit UT Dallas to collaborate with ICDRiA researchers.

    NSF provided original funding of $290,000 to Dr. Alain Bensoussan, director of ICDRiA and Dr. Janos Turi, professor in the Department of Mathematical Sciences at UT Dallas.

  • April 21, 2008 Renowned Executive to Collaborate Research with ICDRiA

    RICHARDSON, Texas (April 21, 2008)—The International Center for Decision and Risk Analysis (ICDRiA) has welcomed Executive in Residence Dr. Hylan B. Lyon to The UT Dallas School of Management to collaborate with ICDRiA on water resource management research and industrial problems.

    Dr. Lyon’s career includes serving with the Advanced Aircraft Instrumentation (JANAIR) program of the U.S. Office of Naval Research from 1972 to 1975 with two assignments in the President’s Science Advisors Office under Presidents Nixon and Ford; deputy director of the Science, Technology and Industry Directorate in the Organization for Economic Cooperation and Development (OECD) in Paris, France; and senior consultant to the White House Office of Science and Technology’s Policy on International Science and Technology under President Carter.

    Dr. Lyon spent 10 years with Texas Instruments (TI), during which his experience relevant to risk management and water resources included serving as a back-up member for TI on President Carter’s National Agenda for the 80’s Commission and as chairman of the National Defense University Distinguished Fellows with oversight of the Mobilization Concepts Development Center for three years. After his time with TI, Dr. Lyon served as chief technology officer for Dallas-based Marlow Industries for 15 years.

  • Nov. 30, 2007 NSF Grant to Fund Study of Vibration Dangers

    Please visit News for NSF Grant for details.

  • June 28, 2007 Focus on Mutual Interests Draws Specialists

    Please click Mutual Interests Draws Specialists for details.

  • June 28, 2007 Lead Speaker Gregory S. Parnell Says Homeland Security Necessitates New Risk-Analysis Tools

  • June 28, 2007 Black Swan Author Nassim Taleb Discusses “The Impact of the Highly Improbable”

    Please click “The Impact of the Highly Improbable” for details.

  • June 28, 2007 Keynoter Krishnaswamy Kasturirangan Makes the Case for Assessing Risk from Space

    Please click Assessing Risk from Space for details.

  • May 22, 2007 New Journal to Examine Common Aspects of Risk Across Broad Array of Venues

    Please visit New Journal for details.

  • May 15, 2007 Decision and Risk Analysis Conference at UT Dallas May 21-22

    Please visit Decision and Risk Analysis Conference for details.

  • Nov. 2, 2005 UT Dallas Decision and Risk Analysis Center Wins Grants from Two French Agencies

    Please visit Risk Grants for details.

  • Sept. 19, 2005 Three Researchers Win $200,000 NSF Grant To Study Risk, Decision Making Related to Inventory Stocks

    Please visit Risk Grant for details.

  • May 10, 2005 Head of Alcatel North America to Chair Industry Advisory Board for UT Dallas Research Center

    Please visit Alcatel Chair for details.

  • Feb. 14, 2005

    Please visit Space Lecture for details.

  • Jan. 24, 2005 Decision and Risk Analysis Center at UT Dallas Awarded Grant from European Space Agency

    Please visit Space Grant for details.

  • Jan. 2, 2005 Mr. Raj Sharma Joins ICDRiA as The Center’s New Associate Director

  • Dec. 24, 2004 New UT Dallas Center focuses on Risk Management

    Please visit Dallas Business Journal for details.

  • Nov. 12, 2004 EADS to Support International Center for Decision and Risk Analysis At the University of Texas, Dallas

    Please visit ICDRIA Eadsna Press2004 for details.

  • Sept. 15, 2004 Bensoussan To Head New UT Dallas Center On Risk Management and Analysis

    Please visit Risk Management 2004 for details.

Journal

Risk and Decision Analysis

Risk and Decision Analysis is an interdisciplinary publication focused on bridging the theory and application of risk management. The journal is published quarterly by IOS Press. The editors-in-chief are Dr. Alain Bensoussan, UT Dallas Ashbel Smith Professor and Director of the university’s International Center for Decision and Risk Analysis, and Dr. Charles Tapiero, Morton L. Topfer Chair and Distinguished Professor of Financial Engineering and Technology Management at Polytechnic University of New York.

“A risk is a risk, whether it’s financial, operational or …the risk of a security breach or the spread of disease. There are common concerns to all aspects of risk, which justifies the idea of building a new science and this new journal. Our objective is to promote this new field and contribute to its progress by developing concepts and methods which can be applied.” –Dr. Alain Bensoussan, Editor-in-Chief.