The prize, approved in 2002, is awarded by the Society for Industrial and Applied Mathematics (SIAM) and the Association for Computing Machinery (ACM) in the area of computational science in recognition of outstanding contributions to the development and use of mathematical and computational tools and methods for the solution of science and engineering problems.
An ad hoc prize committee will be appointed for each award jointly by the presidents of SIAM and the ACM. The committee will consist of three members, one designated "Chair." The committee will represent a diversified view of computational science. Committee appointments should be made at least two years before the prize award date.
For continuity, one committee member will normally be reappointed to serve on two successive prize committees, with the committee chair passing to the second-term member. Thus, two new members will be appointed and one member will be reappointed every two years.
The committee will represent a diversified view of computational science and should reflect the international character of the societies. Committee members will be recognized figures in the field of computational science. Membership in SIAM or ACM is not required.
The prize committee will deliver its final report with its nominee(s) at least six months prior to the prize award date. The prize committee will complete its duties with the awarding of the prize. If the prize committee reports that no prize can be awarded, then the prize money will be used to increase the endowment and the duties of the committee will be completed.
The prize is intended to recognize either one individual or a group of individuals for outstanding research contributions to the field of computational science and engineering. The contribution(s) for which the award is made must be publicly available and may belong to any aspect of computational science in its broadest sense.
Rules of Operation
The prize committee will follow the ‘best practices’ set out in the SIAM document for Selection Committees. The prize committee will follow the SIAM rules for conflicts of interest as posted on the SIAM web site.
The SIAM office will solicit nominations. A call for nominations should be placed in appropriate SIAM and other publications. Nominations may be by self or by others. A letter of recommendation should accompany nominations.
The recommendation for the award should be presented by the prize committee to SIAM, via the SIAM president. The recommendation for the award must be accompanied by a written justification and a citation of about 100 words that can be read at the award date.
The Selection Committee has the authority to choose to abstain from giving the award if there is no acceptable individual. If the award is not given for this reason, a new selection committee will be selected for the next award cycle.
Prize Award Date
The prize will be considered every two years. If no prize is awarded, the award date moves ahead two years.
Description of the Award
The award will include a certificate containing the citation and a cash prize, the amount of which will be determined by the Executive Committee of the SIAM Board. Normally the amount of the prize will be approximately the available proceeds from the endowment minus travel expenses from the endowment as noted below. Travel expenses for the award recipient(s) to the meeting will normally be paid by the prize fund.
Presentation of the Award
The award will be presented at a major conference of SIAM or the ACM. The Executive Committee of the SIAM Council approves the site for the award. Presentation will be made by the president of SIAM or ACM (or their designee).
SIAM has the responsibility for maintaining the funds necessary for the prize award. The prize fund will be established from charitable funds transferred from the SIAM Institute for the Advancement of Scientific Computing to SIAM for the purpose of endowing the prize fund. The fund will be invested in a fixed rate of return with the net proceeds used to fund the award and travel expenses.
 An award decision will also be postponed to the next cycle if the number of nominations does not meet the required number to forward to the selection committee.