The Centre’s main goal is to expand and adjust the mathematical methods used to accommodate poor and incomplete data in natural hazards. Further development of these mathematical methods is aimed to become create formalisms that are useful for a wide variety of implementations where not enough is known to use methods which require complete data. In many instances, when considering natural hazards, there is a trove of datasets that consist of good but incomplete measurements. These datasets are meaningful but cannot be analysed using first-world methodologies. This syndrome is endemic to the third world where more sophisticated mathematics is required to compensate for the lack of data, skill shortages and lack of funds. The same approach currently used in seismology to overcome the lack of data can also be applied to hailstorms, tsunami, floods as well as terror related catastrophe. Investigations are also being made to determine the applicability of these formalisms to operational risks in the financial industry.
The research over the coming years will be aimed producing research that could assist in facilitating economic growth in the developing world while protecting life and property as well as contributing to sustainable financial systems by quantifying various risks. Opportunities such as the 2010 Football World Cup in South Africa requires the support of models as well as the use of good research to learn lessons for the future.
The Centre has, among others, direct access to the UP Departments of Insurance and Actuarial Science, Mathematics and Applied Mathematics, Statistics, Physics, Civil and Mining Engineering, Geology as well as Geography, Geoinformatics and Meteorology, provide a significant platform for the Centre’s pivotal role in Africa.