Risk Assessment in a Chemical Storage Facility

Raymond F. Boykin, Raymond A. Freeman and Reuven R. Levary
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Raymond F. Boykin: Monsanto, 800 N, Lindbergh Boulevard, St. Louis, Missouri 63167
Raymond A. Freeman: School of Business, Saint Louis University, St. Louis, Missouri 63108
Reuven R. Levary: School of Business, Saint Louis University, St. Louis, Missouri 63108

Management Science, 1984, vol. 30, issue 4, 512-517

Abstract: A risk assessment was performed to assist in the evaluation of equipment improvements for a chemical storage facility. The risk assessment was accomplished through the use of several different methodologies e.g., fault tree analysis, event trees, and risk perspective techniques. The result of the study was a new alternative for a chemical storage facility. This new alternative eliminated the requirement for a large storage facility and reduced the capital project cost by over 10 million dollars.

Keywords: risk assessment; chemical storage (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:30:y:1984:i:4:p:512-517

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