The Department of Management Science has been successful in securing major research funding for three new projects in the area of Risk and Reliability.
Professors John Quigley and Lesley Walls, in collaboration with academics from the Universities of Bristol, Coventry and Nottingham, have recently been awarded a prestigious major grant worth nearly £1m. The grant is from the EPSRC in response to their Future Manufacturing with Mathematical Sciences call.
The project, entitled "Resilience and Robustness of Dynamic Manufacturing Supply Networks," will seek to develop an integrated mathematical modelling suite to support effective decision making in manufacturing supply networks in the context of risk and uncertainty. The Management Science group at Strathclyde, with its strong track record in operational risk modelling will be leading the development of Dynamic Strategic Bayesian Networks, which will extend modelling methodologies to bridge probabilistic inference and game theory for modelling strategic stochastic interactions within supply networks and support the identification of optimal strategies for partnerships and investment to buy down uncertainty.
Professors Quigley and Walls have also secured funding for a PhD studentship to examine the computational aspects of Dynamic Strategic Bayesian Networks from the Air Force Office of Scientific Research as part of their cooperative grants with international educational institutions.
Professor Walls has also secured a travel grant funded jointly by the Hong Kong Research Council and the Scottish Government to support international research collaboration in the modelling risk and reliability of new energy systems, such as off-shore wind farms. This project will relate to a cluster of research and knowledge exchange activities in this area involving Management Science researchers.