A New Approach to Risk Management in the Power Industry Based on Systems Theory

Dariusz Gołȩbiewski, Tomasz Barszcz, Wioletta Skrodzka, Igor Wojnicki and Andrzej Bielecki ()
Additional contact information
Dariusz Gołȩbiewski: PZU S.A., Jana Pawla II 24 Ave., 00-133 Warsaw, Poland
Tomasz Barszcz: Faculty of Mechanical Engineering and Robotics, AGH University of Science and Technology, Al. Mickiewicza 30, 30-059 Kraków, Poland
Wioletta Skrodzka: Faculty of Management, Czȩstochowa University of Technology, Armii Krajowej 19B, 42-200 Czȩstochowa, Poland
Igor Wojnicki: Faculty of Electrical Engineering, Automatics, Computer Science and Biomedical Engineering, AGH University of Science and Technology, Al. Mickiewicza 30, 30-059 Kraków, Poland
Andrzej Bielecki: Institute of Security and Computer Science, Faculty of Exact and Natural Sciences, Pedagogical University in Kraków, Podchora̧żych 2, 30-084 Kraków, Poland

Energies, 2022, vol. 15, issue 23, 1-19

Abstract: Contemporary risk management is based on statistical analysis. Such an approach has a few crucial disadvantages. First of all, it has limited applicability to new technological solutions. In this paper, a new idea for risk evaluation and management is put forward. The proposed approach is based on the autonomous systems theory. The theoretical foundation of the proposed idea is described and its prospective applications are discussed. The proposed measures of risk are based on the idea of the controllability of the system—the greater the level of controllability, the lower the risk. Various aspects of controllability are analyzed—economic, technological, and industrial. For each aspect of controllability, the problem of defining adequate measures for the level of risk is discussed. The proposed approach allows the risk assessor to analyze the system deeply. As a consequence, the analyst can assess the risk based not only on a posteriori statistics but also on an analysis of the crucial properties of the system. This allows the investigator to predict a priori possibilities of critical events. The proposed methodology is applied to the power industry.

Keywords: autonomous systems; risk analysis; controllability; risk measure; power industry (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/1996-1073/15/23/9003/pdf (application/pdf)
https://www.mdpi.com/1996-1073/15/23/9003/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:15:y:2022:i:23:p:9003-:d:986757

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().