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A combined usage of stochastic and quantitative risk assessment methods in the worksites: Application on an electric power provider

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  • Marhavilas, P.K.
  • Koulouriotis, D.E.

Abstract

An individual method cannot build either a realistic forecasting model or a risk assessment process in the worksites, and future perspectives should focus on the combined forecasting/estimation approach. The main purpose of this paper is to gain insight into a risk prediction and estimation methodological framework, using the combination of three different methods, including the proportional quantitative-risk-assessment technique (PRAT), the time-series stochastic process (TSP), and the method of estimating the societal-risk (SRE) by F–N curves. In order to prove the usefulness of the combined usage of stochastic and quantitative risk assessment methods, an application on an electric power provider industry is presented to, using empirical data.

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  • Marhavilas, P.K. & Koulouriotis, D.E., 2012. "A combined usage of stochastic and quantitative risk assessment methods in the worksites: Application on an electric power provider," Reliability Engineering and System Safety, Elsevier, vol. 97(1), pages 36-46.
    • Handle: RePEc:eee:reensy:v:97:y:2012:i:1:p:36-46
    DOI: 10.1016/j.ress.2011.09.006
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    1. Marhavilas, P.K. & Koulouriotis, D.E. & Spartalis, S.H., 2013. "Harmonic analysis of occupational-accident time-series as a part of the quantified risk evaluation in worksites: Application on electric power industry and construction sector," Reliability Engineering and System Safety, Elsevier, vol. 112(C), pages 8-25.
    2. Panagiotis K. Marhavilas & Michael G. Tegas & Georgios K. Koulinas & Dimitrios E. Koulouriotis, 2020. "A Joint Stochastic/Deterministic Process with Multi-Objective Decision Making Risk-Assessment Framework for Sustainable Constructions Engineering Projects—A Case Study," Sustainability, MDPI, vol. 12(10), pages 1-21, May.
    3. Pouya Gholizadeh & Ikechukwu S. Onuchukwu & Behzad Esmaeili, 2021. "Trends in Catastrophic Occupational Incidents among Electrical Contractors, 2007–2013," IJERPH, MDPI, vol. 18(10), pages 1-24, May.
    4. Gavriil D. Chaitidis & Panagiotis K. Marhavilas & Venetis Kanakaris, 2022. "Potential Effects on Human Safety and Health from Infrasound and Audible Frequencies Generated by Vibrations of Diesel Engines Using Biofuel Blends at the Workplaces of Sustainable Engineering Systems," Sustainability, MDPI, vol. 14(13), pages 1-23, June.
    5. Fotis Kitsios & Elpiniki Chatzidimitriou & Maria Kamariotou, 2023. "The ISO/IEC 27001 Information Security Management Standard: How to Extract Value from Data in the IT Sector," Sustainability, MDPI, vol. 15(7), pages 1-17, March.
    6. Panagiotis K. Marhavilas & Michail Filippidis & Georgios K. Koulinas & Dimitrios E. Koulouriotis, 2020. "A HAZOP with MCDM Based Risk-Assessment Approach: Focusing on the Deviations with Economic/Health/Environmental Impacts in a Process Industry," Sustainability, MDPI, vol. 12(3), pages 1-29, January.

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