Use of Advances in Technology for Maritime Risk Assessment

J. Wang, H. S. Sii, J. B. Yang, A. Pillay, D. Yu, John Liu (), E. Maistralis and A. Saajedi

Risk Analysis, 2004, vol. 24, issue 4, 1041-1063

Abstract: The maritime industry is moving toward a “goal‐setting” risk‐based regime. This opens the way to safety engineers to explore and exploit flexible and advanced risk modeling and decision‐making approaches in the design and operation processes. In this article, following a brief review of the current status of maritime risk assessment, a design/operation selection framework and a design/operation optimization framework are outlined. A general discussion of control engineering techniques and their application to risk modeling and decision making is given. Four novel risk modeling and decision‐making approaches are then outlined with illustrative examples to demonstrate their use. Such approaches may be used as alternatives to facilitate risk modeling and decision making in situations where conventional techniques cannot be appropriately applied. Finally, recommendations on further exploitation of advances in general engineering and technology are suggested with respect to risk modeling and decision making.

Date: 2004
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https://doi.org/10.1111/j.0272-4332.2004.00506.x

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Persistent link: https://EconPapers.repec.org/RePEc:wly:riskan:v:24:y:2004:i:4:p:1041-1063

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