 Multi-attribute risk assessment for risk ranking of natural gas pipelinesA.J. Brito and A.T. de Almeida Reliability Engineering and System Safety, 2009, vol. 94, issue 2, 187-198 Abstract: The paper presents a decision model for risk assessment and for risk ranking of sections of natural gas pipelines based on multi-attribute utility theory. Pipeline hazard scenarios are surveyed and the reasons for a risk assessment model based on a multi-attribute approach are presented. Three dimensions of impact and the need to translate decision-makers’ preferences into risk management decisions are highlighted. The model approaches these factors by using a multi-attribute utility function, in order to produce multi-dimensional risk measurements. By using decision analysis concepts, this model quantitatively incorporates the decision-maker's preferences and behavior regarding risk within clear and consistent risk measurements. In order to support the prioritizing of critical sections of pipeline in natural gas companies, this multi-attribute model also allows sections of pipeline to be ranked into a risk hierarchy. A numerical application based on a real case study was undertaken so that the effectiveness of the decision model could be verified. Keywords: Natural gas pipelines; Pipeline hazard scenarios; Risk assessment; Multi-attribute utility theory; Decision analysis (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:94:y:2009:i:2:p:187-198 DOI: 10.1016/j.ress.2008.02.014 Access Statistics for this article Reliability Engineering and System Safety is currently edited by Carlos Guedes Soares More articles in Reliability Engineering and System Safety from Elsevier |
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