Tools for making acute risk decisions with chemical process safety applications
Center for Chemical Process Safety of the American Institute of Chemical Engineers, Aug 15, 1994 - Science - 472 pages
The complexity of today's risk decisions is well known. Beyond cost and risk there are many other factors contributing to these decisions, including type of risk (such as human injury or fatality), the economic impact on the local community, profitability, availability of capital, alternatives for reducing or eliminating the risk, costs of implementing alternatives, codes, standards, regulation, and good industry practice. This book presents a large range of decision aids for risk analysts and decision makers in industry so that vital decisions can be made in a more consistent, logical, and rigorous manner. Though primarily aimed at the process industry, this book can be used by anyone who makes similar decisions in other industries, including those in management science.
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additional alternative analysis team Analytic Hierarchy Process application approach assess assigned attribute benefits Borda count calculated Chapter Chemcorp Chemical Process Safety chlorine Community goodwill complex considered constraints cost-benefit analysis criterion decision aids decision analysis cycle decision criteria decision maker decision problem decision tree decision variables decision-maker's decision-making defined described developed discount distillation column dollar dynamic programming effects estimate evaluation example expected utility expected value facility fatalities First-year demand goal programming impacts implement important individuals influence diagram inputs involve Kepner-Tregoe Decision Analysis linear programming mathematical programming maximize measure Minimize multiattribute utility analysis multiattribute utility function objective optimal pairwise comparisons payoff matrix analysis phase pipeline plant manager possible outcomes preferences priorities Probabilistic quantitative Research risk analysis risk decision scenarios Section sensitivity analysis solution Step Table techniques uncertainty voters Voting Methods voting system weighted scoring methods