Decision‐Making Analytics Using Plural Resilience Parameters for Adaptive Management of Complex Systems

Shital A. Thekdi and Joost Santos

Risk Analysis, 2019, vol. 39, issue 4, 871-889

Abstract: It is critical for complex systems to effectively recover, adapt, and reorganize after system disruptions. Common approaches for evaluating system resilience typically study single measures of performance at one time, such as with a single resilience curve. However, multiple measures of performance are needed for complex systems that involve many components, functions, and noncommensurate valuations of performance. Hence, this article presents a framework for: (1) modeling resilience for complex systems with competing measures of performance, and (2) modeling decision making for investing in these systems using multiple stakeholder perspectives and multicriteria decision analysis. This resilience framework, which is described and demonstrated in this article via a real‐world case study, will be of interest to managers of complex systems, such as supply chains and large‐scale infrastructure networks.

Date: 2019
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https://doi.org/10.1111/risa.13209

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Persistent link: https://EconPapers.repec.org/RePEc:wly:riskan:v:39:y:2019:i:4:p:871-889

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