Risk‐based multiobjective resource allocation in hierarchical systems with multiple decisionmakers. Part II. A case study

Zhenyu Yan and Yacov Y. Haimes

Systems Engineering, 2011, vol. 14, issue 1, 17-28

Abstract: This paper demonstrates an application of the Multiobjective Multi‐decisionmaker Resource Allocation (MOMDRA) risk management framework proposed in Part I. A case study of a pumping system, which is a critical component of the hurricane protection system, in the greater New Orleans area during the Katrina event, is discussed. Based on the MOMDRA methodology, the case study models how pumping capacity might be allocated during the initial construction or subsequent enhancement of a pumping system as a multiobjective resource allocation process for managing hurricane risks. Pareto optimal risk management alternatives are generated, and tradeoff analyses are performed across different levels of decisionmakers. The case study demonstrates the applicability and effectiveness of the MOMDRA methodology in risk‐based modeling and management of real‐world large‐scale systems. © 2010 Wiley Periodicals, Inc. Syst Eng 14: 17–28, 2011

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:wly:syseng:v:14:y:2011:i:1:p:17-28

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