Title: Risk-based decision analysis in radioactive waste management processes: methodology with examples
Authors: Lewis D. Muhlestein, Scott R. Pierce
Addresses: ARES Corporation, 636 Jadwin Avenue, Suite B, Richland, Washington 99352, USA. ARES Corporation, 636 Jadwin Avenue, Suite B, Richland, Washington 99352, USA
Abstract: This paper starts with a formal definition of risk and couples risk and uncertainty analysis in a decision analysis process. This risk-based decision analysis process is illustrated with two examples where significant decisions needed to be made relative to radioactive waste management processes. The first example illustrates a schedule risk assessment where the risks associated with achieving a major schedule were determined, quantified and managed. The second example illustrates the importance of quantifying the risk for cost-benefit (reduced risk) evaluations.
Keywords: risk management; decision analysis; uncertainty analysis.
DOI: 10.1504/IJRAM.2000.001493
International Journal of Risk Assessment and Management, 2000 Vol.1 No.1/2, pp.137-148
Published online: 04 Jul 2003 *
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