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The reference installation approach for the estimation of industrial assets at risk

Author

Listed:
  • Jutta Geldermann
  • Mirjam Merz
  • Valentin Bertsch
  • Michael Hiete
  • Otto Rentz
  • Isabel Seifert
  • Annegret H. Thieken
  • Dietmar Borst
  • Ute Werner

Abstract

When natural disasters and extreme events such as storms, floods and earthquakes occur, it is not only people, residential buildings and infrastructure that are seriously affected, but also industry. Direct losses to installations as well as indirect losses, e.g., the interruption of production, can cause severe damage to companies and the economy as a whole. For a comparative and quantitative risk assessment, and being a prerequisite for emergency planning and crisis management (e.g., planning of mitigation measures), a financial appraisal of industrial assets at risk is needed. This paper presents the reference installation approach, which is a methodology that allows a consistent and transparent assessment of individual industrial asset values. The results of this bottom-up approach can be used for a detailed spatial mapping of industrial assets taking into account the characteristics of different sectors. [Received 9 May 2007; Revised 31 August 2007; Accepted 11 September 2007]

Suggested Citation

  • Jutta Geldermann & Mirjam Merz & Valentin Bertsch & Michael Hiete & Otto Rentz & Isabel Seifert & Annegret H. Thieken & Dietmar Borst & Ute Werner, 2008. "The reference installation approach for the estimation of industrial assets at risk," European Journal of Industrial Engineering, Inderscience Enterprises Ltd, vol. 2(1), pages 73-93.
    • Handle: RePEc:ids:eujine:v:2:y:2008:i:1:p:73-93
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    Cited by:

    1. Isabel Seifert & Annegret Thieken & Mirjam Merz & Dietmar Borst & Ute Werner, 2010. "Estimation of industrial and commercial asset values for hazard risk assessment," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 52(2), pages 453-479, February.

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