Title :
Dynamic temporal risk allocation in complex hazard management
Author_Institution :
RS2A Limited, Swindon, UK
Abstract :
Dynamic temporal risk allocation (DTRA) has been used in other research domains, notably in the predation theory on prey animals as part of ecology research and risk management in economic markets, as part of financial research. In both cases risk has been judged in the temporal domain. When a new sub-system is added to any complex system - ecology, finance or transport, it brings with it some residual risk. Its insertion into the system-of-systems brings another hazard source to the risk profile. However, the overall risk may be judged to remain broadly the same because the new source cannot bring a new temporal unit of risk exposure - it has to replace some other item´s temporal unit. The existing research on this subject in parallel domains needs to be brought to the safety industry domain to be reviewed for value and benefit.
Keywords :
Hazard Management; Risk Allocation;
Conference_Titel :
Systems Safety 2009. Incorporating the SaRS Annual Conference, 4th IET International Conference on
Conference_Location :
London, UK
DOI :
10.1049/cp.2009.1558