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Risk Assessment in a Chemical Storage Facility


  • 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)


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.

Suggested Citation

  • Raymond F. Boykin & Raymond A. Freeman & Reuven R. Levary, 1984. "Risk Assessment in a Chemical Storage Facility," Management Science, INFORMS, vol. 30(4), pages 512-517, April.
  • Handle: RePEc:inm:ormnsc:v:30:y:1984:i:4:p:512-517

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    Cited by:

    1. Emanuele Borgonovo & Veronica Cappelli & Fabio Maccheroni & Massimo Marinacci, 2015. "Risk Analysis and Decision Theory: Foundations," Working Papers 556, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    2. 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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    risk assessment; chemical storage;


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