 A system dynamics simulation model for environmental risk assessment at strategic level in power plantsSahar Mohammad Al Mashaqbeh, Jose Eduardo Munive-Hernandez, Mohammed Khurshid Khan and Awni Al Khazaleh International Journal of Reliability and Safety, 2020, vol. 14, issue 1, 58-84 Abstract: In a constantly changing business environment, a systematic approach is needed for risk assessment in order to allow for a more long-term strategic view. The System Dynamics (SD) modelling technique can be applied as an effective approach to understand the dynamic behaviour of a system over time. This understanding can be subsequently explicitly reflected on policies, strategic plans and operational procedures. This paper presents a SD model to assess environmental risks in power plants. The model helps to understand the long-term behaviour of the system under study. A questionnaire and focus group interviews have been conducted to understand the relationship among various risks. The SD model has been validated with two power plants in the Middle East. The developed model highlighted the impact of environmental risks on the performance of power plants. Although the SD model focuses on risk assessment in power plants, it can be easily adapted to other industry sectors. Keywords: system dynamic; non-technical risks; environmental risks; FMEA and EWGM. (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:ids:ijrsaf:v:14:y:2020:i:1:p:58-84 Access Statistics for this article More articles in International Journal of Reliability and Safety from Inderscience Enterprises Ltd |
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