Foundations and choice of risk metrics

Johansen, Inger Lise; Rausand, Marvin

doi:10.1016/j.ssci.2013.09.011

Cited by 53 publications

(25 citation statements)

References 48 publications

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“…In this way C4 is more aligned with the theories of [1], [18]. Opposite to C4 is C1 that integrates TD in PD.…”

Section: Discussionmentioning

confidence: 97%

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Managing risk in the introduction of new technology in products

Stolt

André²,

Elgh³

et al. 2015

AOP

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Abstract. In this paper interviews with staff involved in product development from four different companies is presented. The objective is to find out how the companies manage the technical risk of introducing new technology in products and how they prepare for meeting changing requirements from customers. The companies originates from aerospace, automotive and production engineering. Based on the results of the first study, a case study was carried out at the aerospace company. The studies shows that, the introduction of new technology varies with the risk of failure in the validation of the products. Companies that easily can revert back to the former technology is more risk taking. The types of products and the companies' place in the supply chain has an impact on technology introduction and requirements handling. The companies have strategies for developing requirement specifications prior to the start of the project. This is most elaborate at the aerospace company where a thorough concept evaluation clarify possible variations in requirements.

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“…In this way C4 is more aligned with the theories of [1], [18]. Opposite to C4 is C1 that integrates TD in PD.…”

Section: Discussionmentioning

confidence: 97%

“…The term "risk" both involve identifying the hazards and threats as well as handling all the possible consequences in that the event should occur [1]. In this paper the risk referred to is that un-ready technology is incorporated into the products.…”

Section: Introductionmentioning

confidence: 99%

Managing risk in the introduction of new technology in products

Stolt

André²,

Elgh³

et al. 2015

AOP

View full text Add to dashboard Cite

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“…A different perspective to the PRA credibility discussions can be found in concepts that concern risk indicators and risk metrics. For example, Johansen and Rausand (2014) propose some evaluation criteria in regards to risk metrics. A comparison of criteria based on the two views are shown in Table 1, which is used as a foundation for securing validity of the PhD project results.…”

Section: Scientific Approach and Verification "A Good Theory Is Bettementioning

confidence: 99%

Human factors modelling in offshore drilling operations

Strand

Lundteigen

2016

Journal of Loss Prevention in the Process Industries

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“…There are a number of ways to produce a measure of risk from knowledge of rewards and probabilities of occurrence (Johansen and Rausand, 2014). The most appropriate metric for this framework is variance.…”

Section: Establishing a Risk Metricmentioning

confidence: 99%

Risk-aware Planning in BDI Agents

Killough

Bauters

McAreavey

et al. 2016

Proceedings of the 8th International Conference on Agents and Artificial Intelligence

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Abstract:The ability of an autonomous agent to select rational actions is vital in enabling it to achieve its goals. To do so effectively in a high-stakes setting, the agent must be capable of considering the risk and potential reward of both immediate and future actions. In this paper we provide a novel method for calculating risk alongside utility in online planning algorithms. We integrate such a risk-aware planner with a BDI agent, allowing us to build agents that can set their risk aversion levels dynamically based on their changing beliefs about the environment. To guide the design of a risk-aware agent we propose a number of principles which such an agent should adhere to and show how our proposed framework satisfies these principles. Finally, we evaluate our approach and demonstrate that a dynamically risk-averse agent is capable of achieving a higher success rate than an agent that ignores risk, while obtaining a higher utility than an agent with a static risk attitude.

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Foundations and choice of risk metrics

Cited by 53 publications

References 48 publications

Managing risk in the introduction of new technology in products

Managing risk in the introduction of new technology in products

Human factors modelling in offshore drilling operations

Risk-aware Planning in BDI Agents

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