Proper orthogonal decomposition closure models for fluid flows: Burgers equation

This paper puts forth several closure models for the proper orthogonal decomposition (POD) reduced order modeling of fluid flows. These new closure models, together with other standard closure models, are investigated in the numerical simulation of the Burgers equation. This simplified setting represents just the first step in the investigation of the new closure models. It allows a thorough assessment of the performance of the new models, including a parameter sensitivity study. Two challenging test problems displaying moving shock waves are chosen in the numerical investigation. The closure models and a standard Galerkin POD reduced order model are benchmarked against the fine resolution numerical simulation. Both numerical accuracy and computational efficiency are used to assess the performance of the models

Auditing IT Governance

Effective IT governance helps ensure that IT supports business goals, optimizes business investment in IT, and appropriately manages IT-related risks and opportunities. Organizations that realize the IT is no longer a support process and embeds value and risks need a structured approach for better managing Information Technology, enable its capability to deliver added value enterprise wide and for setting up a risk management program to address new risks arising for usage of IT in business processes. In order to assess if IT Governance is in line with industry practices, IT Auditors need a good understanding of processes and applicable standards, particular audit work programs and experience in assessing potential problem indicators.IT Governance, Audit, ISACA, CGEIT, Val IT, Value Governance, Portfolio Management, Investment Management

A Two-Level Finite Element Discretization of the Streamfunction Formulation of the Stationary Quasi-Geostrophic Equations of the Ocean

In this paper we proposed a two-level finite element discretization of the nonlinear stationary quasi-geostrophic equations, which model the wind driven large scale ocean circulation. Optimal error estimates for the two-level finite element discretization were derived. Numerical experiments for the two-level algorithm with the Argyris finite element were also carried out. The numerical results verified the theoretical error estimates and showed that, for the appropriate scaling between the coarse and fine mesh sizes, the two-level algorithm significantly decreases the computational time of the standard one-level algorithm.Comment: Computers and Mathematics with Applications 66 201

The Effects of Economic Crisis on Country Risk

It is widely accepted that risk is a constant of the human activity in general. From this perspective, the expansion of business across country borders requires identification, assessment and brief analysis of the overall risk that operators would face in a targeted national economy.Country risk is the one that shows in a general manner the international business risks, reflecting the overall situation and the cumulative effects of other risks. It is therefore considered to be a diagnosis of the socio-economic potential of the country receiving international economic flows. The complex, dynamic and variable character of the "new economy" has imposed a permanent adaptation of the country risk concept and has increased its importance given the international affairs. This is because knowing and understanding it, enable the economic agents to make rational decisions, minimizing the risks and increasing the profitability of their foreign activities. Also for a greater efficiency in decision making regarding internationalization, a specific activity became essential, which is country risk management. Country risk issues remain open to interpretations, especially in the context of economic crisis. The situation the world economy is facing today, changes considerably the criteria and also the assessments regarding the cataloguing of country risk.risk, uncertainty, country risk, systematic risk, economic decline, risk management

ADAPTING THE THEORY TO REALITY. THE TRIAD GLOBALIZATION-PROTECTIONISM-ECONOMIC PATRIOTISM

A science is adjusting and developing in time – on this trajectory the evolution of economic science is situated. The emergence of new concepts, as well as re-theorizing of some traditional concepts comes to support this viewpoint. In order to demonstraprotectionism, globalization, economic patriotism.