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ACT on Computational Management Computational Management Science is a recent interdisciplinary field closely related to Computational Intelligence and Management Science. It examines and develops the computational aspects of management sciences. [image:Management of Complexity] |
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| Studies of models, empirical analysis and optimisation of economic, management, decision making and related engineering processes define Computational Management Science.
For more details you can check the past and ongoing |
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| Computational Management Science is a new research area for the Advanced Concepts Team. The team is already performing research on Computational Intelligence (CI) and Artificial Intelligence (AI) for space based applications. CI and AI is a very dynamic and expanding field with new theories and methods constantly being proposed and older ones being improved. These include evolutionary computation, game theory, agent based systems, dynamic programming, decision trees, data mining and genetic algorithms to name just a few. Computational Management Science is the link allowing this knowledge and results to be applied to more diverse applications involving management science and decision making.
Compared to the advances in fields like CI, Management Science and the related financial or engineering procedures remain relatively conventional in the way they are performed and planned. Management involves tasks like strategic planning, forecasting and scheduling among others. These tasks can be dramatically improved by the use of CI methods and theories. There can be multiple benefits by creating alternative procedures or improving the speed or accuracy of the existing ones. Yet unsolved problems, for which the traditional tools have failed to provide with an explanation, could be approached more efficiently. To give an example, the study of the World Wide Web as a network of nodes inspired the theory of small world networks about 10 years ago. The theory proved to be applicable to more general networks of human interactions and with the use of the right computational tools it could also be exploited in market research, which is one of the milestones of management. Another example is the use of complexity theory and the interactions between heterogeneous agents to explain the perturbations of the stock market, leading to better decisions making.
CMS tools could be very useful in the management procedures of an intergovernmental organisation like the European Space Agency. The projects and all the related activities of ESA are extremely complex and require very accurate planning. Computational Management Science offers innovative and efficient methods for these tasks. But such methods can also be exploited in more specific space related applications. Mission planning, technology roadmaps or resources management are some of those. For more details you can check the past and ongoing |
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