Platform 2: Managing risks and complex decisions

Challenge

The adoption of ReMake in high-integrity sectors is hindered by insufficient decision-making tools capable of assessing risks. Existing models often lack the mathematical foundations needed to connect uncertainties  such as technology, skills, and regulations, with key value drivers such as cost, reliability, and emissions. 

Goal

Developing value-centred Remake modelling framework integrating decisions, uncertainties and multiple objectives to support evidence-based decision-making on optimal Value Retention Processes. Provide technical guidance and inform ReMake related standards. 

Key Themes

  • Demonstrators down-selection model
  • Value-centred Mathematical modelling framework  
  • Evidence-based decision-making tool 
  • Support standard development 

 

Team Members

Key contributors to this area are:

Lesley Walls

Professor Lesley Walls

Professor, Management Science
University of Strathclyde

Lesley Walls' research focuses on creating models to support risk-informed decisions under uncertainty, particularly for innovative technologies and engineering systems in socio-technical contexts. She is a Chartered Statistician and a Fellow of the UK Safety and Reliability Society. Lesley develops methodologies for operational decision problems in Maritime, Energy, Aerospace, Defence, Manufacturing, and Financial Services. Her projects, funded by UK research agencies, the European Commission, the Royal Society, Innovate UK, and industry sponsors, span both basic and applied research. She received the 1906 Award from the International Electrotechnical Commission for her contributions to dependability methods.

Prof Matthew Revie

Professor Matthew Revie

Professor, Management Science
University of Strathclyde

Matthew Revie is the Head of the Department of Management Science at Strathclyde Business School. His research focuses on Risk Analysis and Decision Making under uncertainty, bridging the gap between research and practice. He co-founded the Risk Consortium and the Centre for Informed Decision Analytics (IDeA). Matthew's work is published in top journals, and he supervises a team of researchers and PhD students. He serves on the editorial board of the IMechE Journal of Risk and Reliability and is a Fellow of the Operational Research Society. His expertise includes reliability modelling, expert judgement, and quantitative decision-making in various industries.

Euan Barlow

Dr Euan Barlow

Principle Knowledge Exchange Fellow
University of Strathclyde

Euan Barlow is a Senior Knowledge Exchange Fellow at the University of Strathclyde's Department of Management Science. As Director of Knowledge Exchange and co-Director of the Informed Decision Analytics (IDeA) Centre, he collaborates with engineers and scientists on multi-disciplinary teams. Euan specializes in applying advanced modelling techniques to solve real-world problems, creating practical solutions for industry. His expertise spans discrete-event simulation, multi-objective evolutionary optimization algorithms, Markov decision processes, expert elicitation, and mathematical modelling of acoustics. Euan's work bridges academia and industry, driving innovation through purpose-built tools and collaborative efforts.