Institute for Risk and Uncertainty
| Abbreviation | Risk Institute |
|---|---|
| Formation | 2012 |
| Purpose | Research and education |
| Headquarters | Chadwick Building, Peach Street, Liverpool, L69 7ZF, United Kingdom |
| Location | |
| Coordinates | 53°24′15″N 2°57′53″W / 53.404110°N 2.964600°W ⧼validator-fatal-error⧽ |
Director | Scott Ferson |
Deputy Director | Edoardo Patelli |
Parent organization | University of Liverpool |
| Website | riskinstitute |
The Institute for Risk and Uncertainty (commonly known as the "Risk Institute") is a component of the Faculty of Science and Engineering of the University of Liverpool in the United Kingdom. The Risk Institute conducts internationally recognised research and training in methods and tools to manage the inherent risks and inescapable uncertainties that arise in natural, social and engineered systems across all academic disciplines and fields of endeavour.
The Risk Institute is funded primarily by research and training grants from UKRI, but it collaborates with researchers, academic institutions, government agencies, and industrial concerns from around the world. Collaboration with industry and NGOs is central to its research and training.
The Risk Institute hosts the Centre for Doctoral Training in Quantification and Management of Risk & Uncertainty in Complex Systems & Environments with funding from the EPSRC and ESRC, which is collocated with the new EPSRC Centre for Doctoral Training in Distributed Algorithms.[1]
Mission[edit]
The Risk Institute's mission[2] is to create methods and tools to estimate, reduce and manage risks and uncertainties so that analysts and engineers can create a safer world with more security without sacrificing efficiency. These methods and tools enable the quantification of risks that might lead to injuries and loss of lives or resources arising from the variability and unpredictability of nature, or from the failures of engineered structures and systems created by humans, social systems involving humans, or adversarial interactions. The quantification has to contend with imprecise or sparse observations and imperfect scientific understanding of the physical, biological and social processes involved.
The Risk Institute promotes risk analysis and uncertainty quantification as an integral part of science and engineering that uses knowledge from physics, biology, chemistry, environmental and life sciences, medicine, economics and finance, psychology and social sciences for solving diverse problems. It develops new methods, experimental and numerical tools, products, and technological and service innovations for engineering and mathematical modeling of natural, engineered, and social systems and resources.
Research and development[edit]
Research and development at the Risk Institute is both inter- and trans-disciplinary, spanning four broad areas:
- Measurement and uncertainty characterisation to make proper use of the statistical uncertainty in measurements collected in new or fluctuating environments or when imprecision cannot be neglected,
- Numerical simulation methods to integrate available data and incomplete scientific knowledge about the underlying processes into models to forecast relevant risks,
- Risk and uncertainty communication to overcome recognised biases afflicting human perception and cognition involving uncertainties, and
- Decision making under risk and uncertainties to optimise planning and management of complex systems.
History[edit]
In response to a diverse series of dramatic disasters in the first decade of the century,[3] the Risk Institute was founded in 2012 by Professor Michael Beer, who was its director until 2015.[4]
References[edit]
External links[edit]
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