A discussion of the acceptable risk problem
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Cited by (31)
A structured approach to improved condition monitoring
2012, Journal of Loss Prevention in the Process IndustriesCitation Excerpt :If a condition monitoring method may lead to improved probability of detecting degradation, and the equipment has the potential to cause hazardous consequences in case of failure, a reduction in risk implies a benefit by implementing that method. Risk costs are often not included in LCC because they may imply estimates of a price on human lives, which is challenging (Vatn, 1998). A challenge with calculating the risk costs when implementing new and/or improved condition monitoring methods is the ability and the uncertainty related to quantifying its impact on the accident frequency.
The risk concept-historical and recent development trends
2012, Reliability Engineering and System SafetyCitation Excerpt :We remember the well-known phrases used by Immanuel Kant (1724–1804), “Das Ding an sich” and “Das Ding fur mich”. Risk (and probability) can be viewed as both a “an sich” property of the world and a “fur mich” concept (see also [74]). However, to be able to meaningfully discuss this issue, we need to link these ideas to specific definitions with clear interpretations.
Design of marine structures with improved safety for environment
2011, Reliability Engineering and System SafetyCitation Excerpt :Based on their preferences, and accounting for the acceptance of risk, these conventions set the minimally acceptable levels of safety [3]. In that sense, an approach of ALARP (As Low As Reasonably Practical), fostering a band of cost-effective risk tolerance, has been established as a tool for effective risk management, Refs. [4–6]. Since increasing safety regularly demands investments or added expenses, most of the vessels are in the end designed only to satisfy the minimal safety requirements, and are thus on the boundary of unacceptable risk.
Life cycle cost (LCC) as a tool for improving sustainability in the Norwegian fishing fleet
2009, Journal of Cleaner ProductionCitation Excerpt :Thus, sometimes loss of safety measures are calculated in addition to LCC, e.g., as accident frequency [37]. According to Vatn [50], there are at least two perspectives on the value of a human life; that of the individual and that of the decision-maker. In the Norwegian transportation sector, common values to use to evaluate the benefit of new efforts, are 21.5 million NOK per fatality and 2.4 million NOK per personal injury [49].
Acceptable sustainability in the fishing fleet
2008, Marine PolicyOn the use of risk acceptance criteria in the offshore oil and gas industry
2005, Reliability Engineering and System Safety