Risk based decision making approach: Developed for international shipping domain by adapting from asset management in energy infrastructures

Today, shipping industry is a complex system involving multiple actors, multiple interests and intricate interactions occurring at different levels.With any disruption to interaction occurring there would be multiple impacts and accumulation of costs on individual actors operating in the system.Unless these risks are well understood and...

Processing Risk In Asset Management: Exploring The Boundaries Of Risk Based Optimization Under Uncertainty For An Energy Infrastructure Asset Manager

In the liberalized energy market Distribution Network Operators (DNOs) are confronted with income reductions by the regulator. The common response to this challenge is the implementation of asset management, which can be regarded as systematically applying Cost Benefit Analysis (CBA) to the risks in the networks. In short, this is Risk Based...