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A multi-attribute Systemic Risk Index for comparing and prioritizing chemical industrial areas

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  • Reniers, G.L.L.
  • Sörensen, K.
  • Dullaert, W.

Abstract

Measures taken to decrease interdependent risks within chemical industrial areas should be based on quantitative data from a holistic (cluster-based) point of view. Therefore, this paper examines the typology of networks representing industrial areas to formulate recommendations to more effectively protect a chemical cluster against existing systemic risks. Chemical industrial areas are modeled as two distinct complex networks and are prioritized by computing two sub-indices with respect to existing systemic safety and security risks (using Domino Danger Units) and supply chain risks (using units from an ordinal expert scale). Subsequently, a Systemic Risk Index for the industrial area is determined employing the Borda algorithm, whereby the systemic risk index considers both a safety and security network risk index and a supply chain network risk index. The developed method allows decreasing systemic risks within chemical industrial areas from a holistic (inter-organizational and/or inter-cluster) perspective. An illustrative example is given.

Suggested Citation

  • Reniers, G.L.L. & Sörensen, K. & Dullaert, W., 2012. "A multi-attribute Systemic Risk Index for comparing and prioritizing chemical industrial areas," Reliability Engineering and System Safety, Elsevier, vol. 98(1), pages 35-42.
    • Handle: RePEc:eee:reensy:v:98:y:2012:i:1:p:35-42
    DOI: 10.1016/j.ress.2011.10.002
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    References listed on IDEAS

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    Cited by:

    1. Mocellin, Paolo & Pilenghi, Lisa, 2023. "Semi-quantitative approach to prioritize risk in industrial chemical plants aggregating safety, economics and ageing: A case study," Reliability Engineering and System Safety, Elsevier, vol. 237(C).
    2. Janssens, Jochen & Talarico, Luca & Sörensen, Kenneth, 2016. "A hybridised variable neighbourhood tabu search heuristic to increase security in a utility network," Reliability Engineering and System Safety, Elsevier, vol. 145(C), pages 221-230.
    3. JANSSENS, Jochen & TALARICO, Luca & SÖRENSEN, Kenneth, 2014. "A hybridised taboo search heuristic to increase security in a utility network," Working Papers 2014023, University of Antwerp, Faculty of Business and Economics.
    4. JANSSENS, Jochen & TALARICO, Luca & SÖRENSEN, Kenneth, 2014. "A metaheuristic approach for security budget allocation in utility networks," Working Papers 2014028, University of Antwerp, Faculty of Business and Economics.
    5. Reniers, G.L.L. & Sörensen, K. & Khan, F. & Amyotte, P., 2014. "Resilience of chemical industrial areas through attenuation-based security," Reliability Engineering and System Safety, Elsevier, vol. 131(C), pages 94-101.

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