The Prize is awarded for a body of work, rather than a single piece. The Prize was intended to reflect contributions that have stood the test of time. The criteria include significance, innovation, depth, and scientific excellence.
The award is $5,000, a medallion and a citation.
The Prize has been awarded since 1975, the first recipient was George B. Dantzig for his work on [linear programming]?. The recipient in 2001 was Ward Whitt for for his contributions to [queueing theory]?, [applied probability]? and [stochastic modelling]?.