Risk Management: With Applications from the Offshore Petroleum Industry / Edition 1

Risk Management: With Applications from the Offshore Petroleum Industry / Edition 1

by Terje Aven, Jan-Erik Vinnem
     
 

ISBN-10: 1846286522

ISBN-13: 9781846286520

Pub. Date: 01/29/2007

Publisher: Springer London

Risk management is a process to assist in the decision-making. The risk management process takes the potential hazards as a starting point, in order to identify suitable arrangements and measures for accident prevention and emergency response in case of an incident. Risk management is a useful approach to satisfy functional regulatory requirements to safety.

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Overview

Risk management is a process to assist in the decision-making. The risk management process takes the potential hazards as a starting point, in order to identify suitable arrangements and measures for accident prevention and emergency response in case of an incident. Risk management is a useful approach to satisfy functional regulatory requirements to safety. Technological developments, organisational changes and increased demand for efficiency have influenced the vulnerability of our society. Thus, safety and risk management is becoming an important field.

Risk Management with Applications from the Offshore Petroleum Industry presents an in-depth discussion of some fundamental principles of risk management, related to the use of expected values, uncertainty handling and risk acceptance criteria. A decision framework for risk management is developed that provides a structure for the classification of risk decision problems and a procedure for the execution of the related decision-making processes. Several examples from the offshore petroleum industry are included to illustrate the use of the framework, but it can also be applied in other areas.

With the inclusion of a risk management framework designed to achieve better decisions and therefore more desirable outcomes, Risk Management with Applications from the Offshore Petroleum Industry is a valuable resource for practitioners in the industry, engineering managers and regulatory authorities. Graduate students and researchers in risk management will find this book a comprehensive reference.

Dr Terje Aven and Dr Jan Erik Vinnem are Professors of Risk Analysis and Management at the University of Stavanger, Norway.

Springer Series in Reliability Engineering publishes high-quality books in important areas of current theoretical research and development in reliability, and in areas that bridge the gap between theory and application in areas of interest to practitioners in industry, laboratories, business, and government.

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Product Details

ISBN-13:
9781846286520
Publisher:
Springer London
Publication date:
01/29/2007
Series:
Springer Series in Reliability Engineering
Edition description:
2007
Pages:
200
Product dimensions:
6.10(w) x 9.25(h) x 0.24(d)

Table of Contents

Introduction

Risk Management Principles and Methods - Review and Discussion

A Risk Management Framework for Decision Support under Uncertainty

Applications - Concept Optimisation

Applications - Operations Phase

Applications - Choice of Disposal Alternative

Applications - Risk Indicators, National Level

The Success Factors - Discussion

Appendix A - Foundational Issues of Risk and Risk Analysis

Appendix B - Example, ALARP Demonstration

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