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Operations Research, Systems Engineering and Industrial Engineering Commons™
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Articles 1 - 3 of 3
Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering
Influence Of The Inherent Safety Principles On Quantitative Risk In Process Industry: Application Of Genetic Algorithm Process Optimization (Gapo), Mehdi Jahangiri, Abolfazl Moghadasi, Mojtaba Kamalinia, Farid Sadeghianjahromi, Sean Banaee
Influence Of The Inherent Safety Principles On Quantitative Risk In Process Industry: Application Of Genetic Algorithm Process Optimization (Gapo), Mehdi Jahangiri, Abolfazl Moghadasi, Mojtaba Kamalinia, Farid Sadeghianjahromi, Sean Banaee
Community & Environmental Health Faculty Publications
Inherent safety (IS) refers to a set of measures that enhance the safety level of processes and equipment, rendering additional equipment and/or add-ons. The early design phase of processes is suited best for implementation of IS strategies as some of such strategies either are impossible to be implemented at the operation phase or substantially increase costs. The purpose of this study is to present a new approach called genetic algorithm process optimization (GAPO), by which processes can be made inherently safer even at the operation phase. This study simulates the IS principle, assessing its impact on quantitative risk and the …
Project-Risk Management And Decision Analysis In Maritime Maintenance And Repair, Michael C. Plumb, C. Ariel Pinto, Rafael Landaeta, Resit Unal, Thomas Murphy
Project-Risk Management And Decision Analysis In Maritime Maintenance And Repair, Michael C. Plumb, C. Ariel Pinto, Rafael Landaeta, Resit Unal, Thomas Murphy
Engineering Management & Systems Engineering Faculty Publications
The purpose of this paper is to provide insights regarding the implementation of using Project Risk Management (PRM) and Decision Analysis (DA) in managing projects for complex systems such as maritime vessels. The PRM approach apprehends many forms of risk both internal and external within a given project and assists the manager in determining the level of importance of each individual project phase and component to optimize project success. Ship Maintenance and Repair project decision-making requires that risk management and risk analysis techniques be applied in order to guide management in making better decisions to meet ship service life perspective. …
Delayed-Bang Approach Towards More Sustainable Critical Infrastructure Risk Management, C. Ariel Pinto, Michael K. Mcshane, Abhishek S. Pathak
Delayed-Bang Approach Towards More Sustainable Critical Infrastructure Risk Management, C. Ariel Pinto, Michael K. Mcshane, Abhishek S. Pathak
Finance Faculty Publications
This article describes the Delayed Bang Approach for determining the value of risk management alternatives in critical infrastructure security. The discussion includes (1) the need for sustainable risk management (2) the importance of time valuation in evaluating competing loss prevention and loss reduction alternatives, (3) the convergence of deterministic engineering economics, survivability analysis, and probabilistic analysis, and (4) hypothetical examples of the Delayed-Bang Approach and significance towards more sustainable risk management.