Project - Applied Mathematics

Aim

The project work shall be carried through in an industrial professional manner, and it shall develop and solidify the participants' competence in the following areas:

• Analysing and structuring problems
• Seeking out and assimilating supplementary knowledge
• Writing and follow-up of project plans and time plans
• Actively contributing to the project group functioning well
• Applying knowledge from previous courses
• Taking initiatives and finding creative solutions
• Presenting results in writing and orally
• Potential and limitations of using mathematical modeling as a real-world problem solving method
• Provide an analysis of a project’s impact on sustainability

The result of the project work shall:

• Maintain high technical standards, and be based on modern knowledge and methods in applied mathematics
• Be documented with a project plan, a time plan, and a technical report
• Be presented orally
• Be followed up in a project reflection document
• Fulfil the requirement specification

A purpose for the course is also for the students to acquire knowledge and abilities within the general area of entrepreneurship, with particular focus on business planning for new ventures. After the course, students should be able to:

• account for models that describe what it takes for a new venture to have a stable basis for further development and to asess the level of development of ventures using such models; and
• account for the information and analyses needed to evaluate a development project from a business point of view and have the ability to collect and analyse relevant information for the purpose.

Content

New projects are offered every year and they are usually formulated in collaboration with an industrial partner or as part of a research project. They are based on knowledge from previous courses but can also require some acquisition of new knowledge of relevance to the project. Typically, we offer projects both with and without focus on finance. In finance the projects can cover estimation of term structures, pricing, risk measurement and hedging on interest rate, exchange rate and option markets. The topics of the other projects vary more and previous projects in collaboration with industry have, for example, addressed scheduling of software processes in electronic systems, planning of transports within a large warehouse building, scheduling of underground mines, and placements of thermal cameras to efficiently detect fires in large bio-fuel depots.