Real Options: A Tool for Managing Technical Risk in a Mine Plan

NPV is a static measure of project value which does not discriminate between levels of internal and external risk in project valuation. Due to current investment project?s characteristics, a much more complex model is needed: one that includes the value of flexibility and the different risk levels associated with variables subject to uncertainty (price, costs, exchange rates, grade and tonnage of the deposits, cut off grade, among many others). Few of these variables present any correlation or can be treated uniformly. In this context, Real Option Valuation (ROV) arose more than a decade ago, as a mainly theoretical model with the potential for simultaneous calculation of the risk associated with such variables. This paper reviews the literature regarding the application of Real Options Valuation in mining, noting the prior focus on external risks, and presents a case study where ROV is applied to quantify risk associated to mine planning.

Technical Challenges in the Construction of Gothic Vaults: The Gothic Theory of Structural Design

The construction of a Gothic vault implied the solution of several technical challenges. The literature on Gothic vault construction is quite large and its growth continues steadily. The main challenge of any structure is that, during and after construction, it must be "safe", that is, it must not collapse. Indeed, it must be amply safe, able to support different loads for long periods of time. Masonry architecture has shown its structural safety for centuries or millennia. The Pantheon of Rome stands today after almost 2,000 years without having needed any structural reinforcement (of course, the survival of any building implies continuous maintenance) . Hagia Sophia in Istanbul, finished in the 6th century AD, has withstood not only the dead loads but also many severe earthquakes . Finally, the Gothic cathedrals, with their appearance of weakness, are• more than a half millennium old. The question arises of what the source of this amazing strength is and how the illiterate master masons were able to design such daring and safe structures . This question is usually evaded in manuals of Gothic architecture. This is quite surprising, the structure being a fundamental part of Gothic buildings. The present article aims to give such an explanation, which has been studied in detail elsewhere. In the first part, the Gothic design methods "V ill be discussed. In the second part, the validity of these methods wi11 be verified within the frame of the modern theory of masonry structures . References have been reduced to a minimum to make the text simpler and more direct.

Alternative Assessment in Engineering Language Education: The case of the Technical University of Madrid

This article describes a research project involving students from nine different engineering degrees at the Technical university of Madrid. The purpose of the project was to analyze the use of peer and self assessment and the students? attitudes toward alternative assessment procedures.

TechnoFusion: new Spanish singular scientific-technical facility for fusion research

Technofusion is the scientific&technical installation for fusion research in Spain, based on three pillars: • It is an open facility to European users. • It is a facility with instrumentation not accesible to small research groups. • It is designed to be closely coordiated with the European Fusion Program. With a budget of 80-100 M€ over five years, several top laboratories will be constructed

Results of the Technical Validation of an Accessible Contact Manager for Mobile Devices

The apparition of new mobile phones operating systems often leads to a flood of mobile applications rushing into the market without taking into account needs of the most vulnerable users groups: the people with disabilities. The need of accessible applications for mobile is very important especially when it comes to access basic mobile functions such as making calls through a contact manager. This paper presents the technical validation process and results of an Accessible Contact Manager for mobile phones as a part of the evaluation of accessible applications for mobile phones for people with disabilities.

Development and Assessment of the Competence Creativity Applied to Technical Drawing

The results obtained after incorporating the competence “creativity” to the subject Technical Drawing of the first course of the Degree in Forestry, Technical University of Madrid, are presented in this study.At first, learning activities which could serve two functions at the same time -developing students’ creativity and developing other specific competences of the subject- were considered. Besides, changes in the assessment procedure were made and a method which analyzes two aspects of the assessment of the competence creativity was established. On the one hand, the products are evaluated by analyzing the outcomes obtained by students in the essays suggested and by establishing a parameter to assess the creativity expressed in those essays. On the other, an assessment of the student is directly carried out through a psychometric test which has been previously chosen by the team.Moreover, these results can be applied to similar or could be of general application

A technical note on application of internally finned tubes in solar parabolic trough absorber pipes

The heterogeneous incoming heat flux in solar parabolic trough absorber tubes generates huge temperature difference in each pipe section. Helical internal fins can reduce this effect, homogenising the temperature profile and reducing thermal stress with the drawback of increasing pressure drop. Another effect is the decreasing of the outer surface temperature and thermal losses, improving the thermal efficiency of the collector. The application of internal finned tubes for the design of parabolic trough collectors is analysed with computational fluid dynamics tools. Our numerical approach has been qualified with the computational estimation of reported experimental data regarding phenomena involved in finned tube applications and solar irradiation of parabolic trough collector. The application of finned tubes to the design of parabolic trough collectors must take into account issues as the pressure losses, thermal losses and thermo-mechanical stress, and thermal fatigue. Our analysis shows an improvement potential in parabolic trough solar plants efficiency by the application of internal finned tubes.

Metabolic risk score indexes validation in overweight healthy people

The constellation of adverse cardiovascular disease (CVD) and metabolic risk factors, including elevated abdominal obesity, blood pressure (BP), glucose, and triglycerides (TG) and lowered high-density lipoprotein-cholesterol (HDL-C), has been termed the metabolic syndrome (MetSyn) [1]. A number of different definitions have been developed by the World Health Organization (WHO) [2], the National Cholesterol Education Program Adult Treatment Panel III (ATP III) [3], the European Group for the Study of Insulin Resistance (EGIR) [4] and, most recently, the International Diabetes Federation (IDF) [5]. Since there is no universal definition of the Metabolic Syndrome, several authors have derived different risk scores to represent the clustering of its components [6-11].

A model for evaluation of generic competences in engineering: application to the problem. Solving competence at the technical University of Madrid.

The competence evaluation promoted by the European High Education Area entails a very important methodological change that requires guiding support to help teachers carry out this new and complex task. In this regard, the Technical University of Madrid (UPM, by its Spanish acronym) has financed a series of coordinated projects with a two-fold objective: a) To develop a model for teaching and evaluating core competences that is useful and easily applicable to its different degrees, and b) to provide support to teachers by creating an area within the Website for Educational Innovation where they can search for information on the model corresponding to each core competence approved by UPM. Information available on each competence includes its definition, the formulation of indicators providing evidence on the level of acquisition, the recommended teaching and evaluation methodology, examples of evaluation rules for the different levels of competence acquisition, and descriptions of best practices. These best practices correspond to pilot tests applied to several of the academic subjects conducted at UPM in order to validate the model. This work describes the general procedure that was used and presents the model developed specifically for the problem-solving competence. Some of the pilot experiences are also summarised and their results analysed

Technical developments for computed tomography on the CENBG nanobeam line

The use of ion microbeams as probes for computedtomography has proven to be a powerful tool for the three-dimensional characterization of specimens a few tens of micrometers in size. Compared to other types of probes, the main advantage is that quantitative information about mass density and composition can be obtained directly, using specific reconstruction codes. At the Centre d’Etudes Nucléaires de Bordeaux Gradignan (CENBG), this technique was initially developed for applications in cellular biology. However, the observation of the cell ultrastructure requires a sub-micron resolution. The construction of the nanobeamline at the Applications Interdisciplinaires des Faisceaux d’Ions en Region Aquitaine (AIFIRA) irradiation facility has opened new perspectives for such applications. The implementation of computedtomography on the nanobeamline of CENBG has required a careful design of the analysis chamber, especially microscopes for precise sample visualization, and detectors for scanning transmission ion microscopy (STIM) and for particle induced X-ray emission (PIXE). The sample can be precisely positioned in the three directions X, Y, Z and a stepper motor coupled to a goniometer ensures the rotational motion. First images of 3D tomography were obtained on a reference sample containing microspheres of certified diameter, showing the good stability of the beam and the sample stage, and the precision of the motion.

Introduction to technical communications of the 26th Int'l. Conference on logic programming (ICLP'10)

Abstract is not available.

Dimensional synthesis of a spherical parallel manipulator based on the evaluation of global performance indexes

In this work, the dimensional synthesis of a spherical Parallel Manipulator (PM) with a -1S kinematic chain is presented. The goal of the synthesis is to find a set of parameters that defines the PM with the best performance in terms of workspace capabilities, dexterity and isotropy. The PM is parametrized in terms of a reference element, and a non-directed search of these parameters is carried out. First, the inverse kinematics and instantaneous kinematics of the mechanism are presented. The latter is found using the screw theory formulation. An algorithm that explores a bounded set of parameters and determines the corresponding value of global indexes is presented. The concepts of a novel global performance index and a compound index are introduced. Simulation results are shown and discussed. The best PMs found in terms of each performance index evaluated are locally analyzed in terms of its workspace and local dexterity. The relationship between the performance of the PM and its parameters is discussed, and a prototype with the best performance in terms of the compound index is presented and analyzed.

Counting Highly Cited Papers for University Research Assessment: Conceptual and Technical Issues

A Kuhnian approach to research assessment requires us to consider that the important scientific breakthroughs that drive scientific progress are infrequent and that the progress of science does not depend on normal research. Consequently, indicators of research performance based on the total number of papers do not accurately measure scientific progress. Similarly, those universities with the best reputations in terms of scientific progress differ widely from other universities in terms of the scale of investments made in research and in the higher concentrations of outstanding scientists present, but less so in terms of the total number of papers or citations. This study argues that indicators for the 1% high-citation tail of the citation distribution reveal the contribution of universities to the progress of science and provide quantifiable justification for the large investments in research made by elite research universities. In this tail, which follows a power low, the number of the less frequent and highly cited important breakthroughs can be predicted from the frequencies of papers in the upper part of the tail. This study quantifies the false impression of excellence produced by multinational papers, and by other types of papers that do not contribute to the progress of science. Many of these papers are concentrated in and dominate lists of highly cited papers, especially in lower-ranked universities. The h-index obscures the differences between higher- and lower-ranked universities because the proportion of h-core papers in the 1% high-citation tail is not proportional to the value of the h-index.

Secundary school profile in science and technology versus the first year at the Technical University of Madrid. Cause of failure or quitting?

Se analiza el absentismo, el fallo y el abandono de los estudiantes en los primeros semestres del grado sobre la base de su formación en la educación secundaria.

Analysis of the Technical Efficiency of Urban Bus Services in Spain Based on SBM Models

During the first decade of the new millennium, fueled by the economic development in Spain, urban bus services were extended. Since the years 2008 and 2009, the root of the economic crisis, the improvement of these services is at risk due to economic problems. In this paper, the technical efficiency of the main urban bus companies in Spain during the 2004–2009 period are studied using SBM (slack-based measures) models and by establishing the slacks in the services' production inputs. The influence of a series of exogenous variables on the operation of the different services is also analyzed. It is concluded that only the 24% of the case studies are efficient, and some urban form variables can explain part of the inefficiency. The methodology used allows studying the inefficiency in a disaggregated way that other DEA (data envelopment analysis) models do not.