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Risk Assessment in a Chemical Storage Facility

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Author Info

  • Raymond F. Boykin

    (Monsanto, 800 N, Lindbergh Boulevard, St. Louis, Missouri 63167)

  • Raymond A. Freeman

    (School of Business, Saint Louis University, St. Louis, Missouri 63108)

  • Reuven R. Levary

    (School of Business, Saint Louis University, St. Louis, Missouri 63108)

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    Abstract

    A risk assessment was performed to assist in the evaluation of equipment improvements for a chemical storage facility. The risk assessment was accomplished through the use of several different methodologies e.g., fault tree analysis, event trees, and risk perspective techniques. The result of the study was a new alternative for a chemical storage facility. This new alternative eliminated the requirement for a large storage facility and reduced the capital project cost by over 10 million dollars.

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    File URL: http://dx.doi.org/10.1287/mnsc.30.4.512
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    Bibliographic Info

    Article provided by INFORMS in its journal Management Science.

    Volume (Year): 30 (1984)
    Issue (Month): 4 (April)
    Pages: 512-517

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    Handle: RePEc:inm:ormnsc:v:30:y:1984:i:4:p:512-517

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    Related research

    Keywords: risk assessment; chemical storage;

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    Cited by:
    1. Bennett, Joanna C. & Bohoris, George A. & Aspinwall, Elaine M. & Hall, Richard C., 1996. "Risk analysis techniques and their application to software development," European Journal of Operational Research, Elsevier, vol. 95(3), pages 467-475, December.

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