scholarly journals Review of QTRA and Risk-based Cost-benefit Assessment of Tree Management

2013 ◽  
Vol 39 (4) ◽  
Author(s):  
Mark Stewart ◽  
Dealga O’Callaghan ◽  
Mark Hartley
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Nuclear Power ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Offshore Platforms ◽  
Risk Management Process ◽  
Fig Trees ◽  
The 1960S

Quantified Risk Assessment (QRA) has been in wide use in risk management since the 1960s for systems ranging from aviation, nuclear power, and offshore platforms to medical treatment and pharmaceuticals. The Quantified Tree Risk Assessment (QTRA) system is examined considering the principles of QRA. A case study of 14 fig trees in Newcastle, Australia, illustrates some limitations of the QTRA process, and extrapolating risks for a single tree to a group of trees. There is a need for any risk management process involving trees, not only to assess the risk, but to weigh the benefits provided by trees by a risk-based cost-benefit analysis. Tree risk assessors should rely on benchmarks to ensure that their assessment is not outside of the realms of reality or scientific rigor.

Using Quantitative Risk Assessment to Justify Location Class Changes: Case Study

2012 ◽  
Author(s):  
Paul Rumney ◽  
Graham Goodfellow
Keyword(s):  
Risk Assessment ◽  
Land Use Planning ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Quantitative Risk Assessment ◽  
Operating Pressure ◽  
Design Code ◽  
New Developments ◽  
Location Class

Expansion of existing residential and commercial areas, or the construction of new developments in the vicinity of high pressure gas transmission pipelines can change a Location Class 1 into a Class 2 or Class 3 location. Operators are left with a pipeline that no longer meets the requirements of its design code. Reducing the maximum allowable operating pressure of a pipeline, or re-routing it away from the population, can meet the requirements of a design code, such as CSA Z662 or ASME B31.8, but such options have both high costs and significant operational difficulties. Quantitative risk assessment has been employed successfully for many years, by pipeline operators, to determine risk based land use planning zones, or to justify code infringements caused by new developments. By calculating the risk to a specific population from a pipeline, and comparing it with suitable acceptability criteria, a pipeline may be shown to contribute no more risk to a population than other pipelines operating entirely in accordance with the design codes. Risks may be demonstrated to be ‘as low as reasonably practicable’, through the use of cost benefit analysis, without additional mitigation, allowing precious pipeline maintenance funds to be spent most effectively in areas where they will have the highest impact on risk. This paper shows how quantitative risk assessment may be used to justify continued safe operation of a pipeline at its original operating stress following a change of class designation, illustrated with a case study from Western Europe.

scholarly journals Use of the cost-benefit analysis method in the risk management process of SMEs

2021 ◽  
Vol 129 ◽  
pp. 03019
Author(s):  
Katarina Makka ◽  
Katarina Kampova
Keyword(s):  
Risk Management ◽  
Cost Benefit Analysis ◽  
Main Idea ◽  
Value Added ◽  
Cost Benefit ◽  
Management Process ◽  
Analysis Method ◽  
Benefit Analysis ◽  
Risk Management Process ◽  
The Cost

Research background: Property protection is a worldwide very often used term in the conditions of various sectors. It represents a set of measures that have a preventive effect on the risk of damage to the building. The issue of property protection does not only concern organizations, but also every person who is the owner of a property in which his important interests are located. The protection of buildings is a current topic on a global scale, mainly to ensure the proper functioning through the protection of all important tangible and intangible assets of company. Purpose of the article: The main idea of this article is to approach the issue and create a risk management process, focusing on dealing with risks in the conditions of a particular company, in this step we will use a cost-benefit analysis to help decide on the implementation or rejection of a project to protect the selected object. Methods: Before applying the method of cost-benefit analysis to a specific case of protection of the object of the selected company, it was necessary to characterize the selected company and find out which risks are unacceptable through the creation of a risk management process. The risk management process was created based on structured and unstructured interviews with the company’s employees. Findings & Value added: The proposed procedure for risk management and application of the method of cost-benefit analysis in the process of risk management are applicable in the conditions of any other organization in order to create an effective project for the protection of the object. If necessary, the procedure for using the cost-benefit analysis method can be adjusted to suit the needs and conditions of the problem of a particular organization.

scholarly journals CHANGES IN THE IMPACT ASSESSMENT FAMILY 2003–2014: IMPLICATIONS FOR CONSIDERING ACHIEVEMENTS, GAPS AND FUTURE DIRECTIONS

2015 ◽  
Vol 17 (01) ◽  
pp. 1550003 ◽  
Author(s):  
FRANK VANCLAY
Keyword(s):  
Risk Assessment ◽  
Impact Assessment ◽  
Social Impact ◽  
Public Involvement ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Fold Increase ◽  
Social Risk ◽  
Proportional Change ◽  
The Impact

Over 150 forms of impact assessment can be identified using Google searches, with several new forms appearing since 2003. Since then, the popularity of the various members of the impact assessment family has changed, partly in response to legislative and regulatory changes, and general trends in society. The information explosion and expansion of the internet has resulted in a 32 fold increase in the number of hits for "impact assessment", now over 12 million. The conventional methods most frequently mentioned in 2003 had relatively low proportional change over the last 10 years but remain amongst the most frequently mentioned in 2014: risk assessment, public participation, cost-benefit analysis, public involvement, environmental monitoring, and project evaluation. The terms with highest proportional change (i.e. the super-hot topics) were primarily social concerns, including: equality impact assessment, welfare impact assessment, mental health impact assessment, disability impact assessment, human impact assessment, social impact assessment, and social risk assessment. Other terms that had high proportional change included life cycle impact assessment. Information about the relative popularity of the various forms of impact assessment is used in this paper to discuss issues and trends in the broad field of impact assessment.

Feasibility of Repurposing Offshore Decommissioned Gas Rigs into Fish Farms

2021 ◽  
Author(s):  
Saptarshi Pal ◽  
Chengi Kuo
Keyword(s):  
North Sea ◽  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Storage System ◽  
Artificial Reef ◽  
Cost Benefit ◽  
Fish Farm ◽  
Fish Feed ◽  
Offshore Platforms ◽  
Fish Farms

Abstract In the past 70 years the world has relied extensively for its energy needs based on hydrocarbons produced significantly offshore. In recent years many installations with fixed platforms and pipelines are reaching the end of their useful life and are required by law to be decommissioned and removed if an approved alternative use cannot be found. This process coincides with focus on decarbonization arising from global warming and climate change. The conventional way of decommissioning is to remove the structure and take it onshore for disposal. Such an activity costs around £28 million for smaller UKCS installations in the Southern North Sea. Possible alternative solutions include their use as a research-leisure complex and artificial reef. Such an approach would have less impact on the environment and it is therefore worthwhile to explore the feasibility of repurposing these decommissioned UKCS platforms. The paper begins by highlighting the background to UKCS offshore decommissioning and farming fish life-cycle. This is followed by a critical review of the three options of total and partial removals and leave-on-site. It is found that repurposing decommissioned platforms for aquaculture farm has not been given sufficient attention and thus offers scope for a project to explore the feasibility of such a solution. Existing offshore fish farming in various countries are examined before using a decision-making matrix to select the most suitable UKCS installation for conversion and this led to using a normally unattended gas platform for the case study. The focus for this paper is on design and operation of an unattended fish farm and its cost benefit analysis. The former covers fish cage selection, capacity calculation, fish handling procedures, fish feed characteristics, feed demand, designing feed logistics and storage system. The processing facilities are layout on two decks and power needs are generated using a hybrid system of diesel and Li-ion battery. The possibility of using renewable sources by connecting to wind energy grids was also considered. For the latter capital and operating expenditure, revenue generated and maintenance costs are estimated before performing net present value prediction of the profitability of the fish farm over 10 years with for example up to 8 cages and three discount rates. The main conclusions derived are: It is technically feasible to convert a decommissioned gas platform to a fish farm and the operation can be economic. However, liability transfer implications in a repurposed offshore decommissioned gas platforms to fish farms were not established to verify the project viability. The conversion of unattended offshore gas platforms in the UKCS to an automated offshore fish farm is a novel solution which has not been implemented in the North Sea before. The work will provide an economic and environmental friendly solution to decommissioning offshore platforms and provide with a possible profitable investment.

scholarly journals The ALARP Principle in the Cost-Benefit Analysis for the Acceptability of Investment Risk

2018 ◽  
Vol 10 (12) ◽  
pp. 4668 ◽  
Author(s):  
Antonio Nesticò ◽  
Shuquan He ◽  
Gianluigi De Mare ◽  
Renato Benintendi ◽  
Gabriella Maselli
Keyword(s):  
Cost Benefit Analysis ◽  
Risk Mitigation ◽  
Cost Benefit ◽  
Economic Evaluations ◽  
Investment Risk ◽  
Benefit Analysis ◽  
Mitigation Design ◽  
The Cost

The process of allocating financial resources is extremely complex—both because the selection of investments depends on multiple, and interrelated, variables, and constraints that limit the eligibility domain of the solutions, and because the feasibility of projects is influenced by risk factors. In this sense, it is essential to develop economic evaluations on a probabilistic basis. Nevertheless, for the civil engineering sector, the literature emphasizes the centrality of risk management, in order to establish interventions for risk mitigation. On the other hand, few methodologies are available to systematically compare ante and post mitigation design risk, along with the verification of the economic convenience of these actions. The aim of the paper is to demonstrate how these limits can be at least partially overcome by integrating, in the traditional Cost-Benefit Analysis schemes, the As Low as Reasonably Practicable (ALARP) logic. According to it, the risk is tolerable only if it is impossible to reduce it further or if the costs to mitigate it are disproportionate to the benefits obtainable. The research outlines the phases of an innovative protocol for managing investment risks. On the basis of a case study dealing with a project for the recovery and transformation of an ancient medieval village into a widespread-hotel, the novelty of the model consists of the characterization of acceptability and tolerability thresholds of the investment risk, as well as its ability to guarantee the triangular balance between risks, costs and benefits deriving from mitigation options.

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