Delayed-Bang Approach Towards More Sustainable Critical Infrastructure Risk Management

Pinto C. Ariel, McShane Michael K and Pathak Abhishek S
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Pinto C. Ariel: Old Dominion University
McShane Michael K: Old Dominion University
Pathak Abhishek S: Old Dominion University

Journal of Homeland Security and Emergency Management, 2011, vol. 8, issue 1, 17

Abstract: 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.

Keywords: risk management; critical infrastructure; security; engineering economy; cost-benefit analysis (search for similar items in EconPapers)
Date: 2011
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DOI: 10.2202/1547-7355.1533

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