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Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering
Supply Chain Network Design: Risk-Averse Vs. Risk-Neutral Decision Making, Alireza Madadi
Supply Chain Network Design: Risk-Averse Vs. Risk-Neutral Decision Making, Alireza Madadi
All Dissertations
Recent events, such as the Heparin tragedy, highlight the necessity for designers and planners of supply chain networks to consider the risk of disruptions in spite of their low probability of occurrence. One effective way to hedge against supply chain network disruptions is to have a robustly designed supply chain network. This involves strategic decisions, such as choosing which markets to serve, which suppliers to source from, the location of plants, the types of facilities to use, and tactical decisions, such as production and capacity allocation. In this dissertation, we focus on models for designing supply chain networks that are …
Epistemic Uncertainty Analysis: An Approach Using Expert Judgment And Evidential Credibility, Patrick Hester
Epistemic Uncertainty Analysis: An Approach Using Expert Judgment And Evidential Credibility, Patrick Hester
Engineering Management & Systems Engineering Faculty Publications
When dealing with complex systems, all decision making occurs under some level of uncertainty. This is due to the physical attributes of the system being analyzed, the environment in which the system operates, and the individuals which operate the system. Techniques for decision making that rely on traditional probability theory have been extensively pursued to incorporate these inherent aleatory uncertainties. However, complex problems also typically include epistemic uncertainties that result from lack of knowledge. These problems are fundamentally different and cannot be addressed in the same fashion. In these instances, decision makers typically use subject matter expert judgment to assist …
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. …