A multicriteria model for risk sorting of natural gas pipelines based on ELECTRE TRI integrating Utility Theory

Anderson J. Brito, Adiel Teixeira de Almeida and Caroline M.M. Mota

European Journal of Operational Research, 2010, vol. 200, issue 3, 812-821

Abstract: This paper proposes a multicriteria model for assessing risk in natural gas pipelines, and for classifying sections of pipeline into risk categories. The model integrates Utility Theory and the ELECTRE TRI method. It aims to help transmission and distribution companies, when engaged in risk management and decision-making, to consider the multiple dimensions of risk that may arise from pipeline accidents. Pipeline hazard scenarios are presented, and it is argued that the assessment of risk in natural gas pipelines should not be based solely on probabilities of human fatalities, but should involve a wider perspective that simultaneously takes into consideration the human, environmental and financial dimensions of impacts of pipeline accidents. Finally, in order to verify the effectiveness of the model set out, a numerical application based on a real case study is presented.

Keywords: Multiple; criteria; analysis; Utility; Theory; ELECTRE; TRI; Natural; gas; pipelines; Risk; assessment (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (26)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:200:y:2010:i:3:p:812-821

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