Risk and Reliability in Stochastic Optimisation and Equilibrium. This project seeks to develop theory and methodology in optimisation which take advantage of recent progress in understanding and treating risk in decision making. Problems of optimisation in the face of uncertainty must confront the risk inherent in having to make reliable decisions before knowing the outcomes of crucial random variables on which costs and constraints may depend. Recent theoretical developments, featuring ‘measure ....Risk and Reliability in Stochastic Optimisation and Equilibrium. This project seeks to develop theory and methodology in optimisation which take advantage of recent progress in understanding and treating risk in decision making. Problems of optimisation in the face of uncertainty must confront the risk inherent in having to make reliable decisions before knowing the outcomes of crucial random variables on which costs and constraints may depend. Recent theoretical developments, featuring ‘measures of risk’ beyond just-expected values and quantiles offer hope of major new advances. This project aims to achieve such advances not only in optimisation but also in models of equilibrium that likewise have to deal with uncertainty. Extending current theory and methodology to such multi-stage stochastic models is a challenge. Besides taking up this challenge for its own sake, a major goal of this research will be to use the results in solution algorithms.Read moreRead less
Forensic management approach to rework mitigation and prevention in construction. Rework is the unnecessary effort of re-doing a process or activity. The direct costs of rework in construction have been reported to be as high as 25% of project costs. These rework costs would be higher if they included the intangible, but real costs of disruption caused by schedule delays, litigation, and dysfunctional contract relationships. To reduce rework in construction projects a forensic project managem ....Forensic management approach to rework mitigation and prevention in construction. Rework is the unnecessary effort of re-doing a process or activity. The direct costs of rework in construction have been reported to be as high as 25% of project costs. These rework costs would be higher if they included the intangible, but real costs of disruption caused by schedule delays, litigation, and dysfunctional contract relationships. To reduce rework in construction projects a forensic project management model that can be used to stimulate learning and process improvement will be developed, evaluated and validated. This will enable the design of strategies to reduce rework and improve the overall performance of projects.Read moreRead less
Industrial Transformation Training Centres - Grant ID: IC200100009
Funder
Australian Research Council
Funding Amount
$4,861,236.00
Summary
ARC Training Centre in Optimisation Technologies, Integrated Methodologies, and Applications (OPTIMA). OPTIMA addresses industry’s urgent need for decision-making tools for global competitiveness: reducing lead times, and financial and environmental costs, while improving efficiency, quality, and agility. Despite strong expertise in academia, industry is yet to fully benefit from optimisation technology due to its high barrier to entry. Connecting industry partners with world-leading interdiscip ....ARC Training Centre in Optimisation Technologies, Integrated Methodologies, and Applications (OPTIMA). OPTIMA addresses industry’s urgent need for decision-making tools for global competitiveness: reducing lead times, and financial and environmental costs, while improving efficiency, quality, and agility. Despite strong expertise in academia, industry is yet to fully benefit from optimisation technology due to its high barrier to entry. Connecting industry partners with world-leading interdisciplinary researchers and talented students, OPTIMA will advance an industry-ready optimisation toolkit, while training a new generation of industry practitioners and over 120 young researchers, vanguarding a highly skilled workforce of change agents for transformation of the advanced manufacturing, energy resources, and critical infrastructure sectors.Read moreRead less
Designing an Intelligent Process Operation Management System. The complexity and sophistication of current generation of industrial processes, and the growing need for autonomous agents that control physical systems, motivate the need for the development of an intelligent process operation management system. In this project, the innovative integration of theories from different scientific fields (computer systems, process engineering, systems and control engineering) provides an excellent platfo ....Designing an Intelligent Process Operation Management System. The complexity and sophistication of current generation of industrial processes, and the growing need for autonomous agents that control physical systems, motivate the need for the development of an intelligent process operation management system. In this project, the innovative integration of theories from different scientific fields (computer systems, process engineering, systems and control engineering) provides an excellent platform for development of a smart data management tool, to oversee the major operational tasks within the plant and help the operators and engineers to make more informed decisions. Direct application of the techniques developed in this study to a pilot case study, could be used as a benchmark to show the potential benefits that can be gained through smart information use and data management.Read moreRead less