Possibility II: Benchmarking pipelined preconditioned iterative methods
Implement in Matlab the pipelined preconditioned versions of CG and GMRES, following [A].
Test the methods against the same methods available in Matlab regarding convergence (do you get the same number of iterations) and time. As a preconditioner, use some incomplete factorization preconditioner (ichol, ilu).
Seek a couple of interesting matrices, spd and nonsymmetric, say from matrix market.
Test Matlab's parfor around the vector updates in the pipelined CG and GMRES to see whether you get an improved performance.
Write a short report on the results and the possible potential for performance improvement.
[A] P. Sanan, S.M. Schnepp, D.A. May, Pipelined flexible Krylov subspace methods (Ref [3] at the course description page).