Enhancing decision-making through new modelling methods of dependent risks to improve engineered systems and complex projects

Impact: Impact - for External Portal › Professional practice, training and standards

Description of impact

Strathclyde research recognised that dependencies between events must be captured to properly assess risk; otherwise risk exposure will be understated and opportunities to learn from related events will be lost. Novel methods and tools, based on the research of the group, have been created for problem structuring, modelling, elicitation, inference and decision support. These have been used in technical risk management for new product development, informed modelling used for risk management of the GB rail system, reduced the costs of renewable energy project bids, influenced a large EU arbitration case, enabled city resilience planning and been referenced by international standards (ISO 31010, IEC 61164)
Impact statusClosed
Impact date2013 → 2020
Category of impactProfessional practice, training and standards
Impact levelBenefit

Keywords

  • REF2021 Impact Case

Documents & Links

  • REF2021 Impact Case

    File: application/pdf, 443 KB

    Type: Case Study – Highlighted in External Portal

Related content