2001
DOI: 10.1016/s0951-8339(00)00027-7
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Fuzzy stochastic risk-based decision analysis with the mobile offshore base as a case study

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Cited by 25 publications
(26 citation statements)
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“…In addition, some other characteristics make risk assessment by fuzzy logic more applicable than classical methods. The main advantages of fuzzy system usage in risk assessment are considered as follows: -fuzzy logic risk assessment expresses the possibility of an outcome, but classical risk assessment methods estimate the likelihood of an outcome (Darbra et al, 2008a); -input and output relationships in fuzzy logic risk assessment are determined not by complicated equations, but by sets of logical rules (Blair et al, 2001); -fuzzy logic risk assessment can be used for cases with input data that is vague, imprecise and insufficient (Darbra and Casal, 2009); -results of risk assessment by fuzzy logic are easy for decision-making. In fact, managers can understand results and outgoings better and more precisely; -partial failures can be studied by fuzzy sets and make it possible to conduct study of risk in more detail and more real conditions.…”
Section: Fuzzy Logicmentioning
confidence: 99%
“…In addition, some other characteristics make risk assessment by fuzzy logic more applicable than classical methods. The main advantages of fuzzy system usage in risk assessment are considered as follows: -fuzzy logic risk assessment expresses the possibility of an outcome, but classical risk assessment methods estimate the likelihood of an outcome (Darbra et al, 2008a); -input and output relationships in fuzzy logic risk assessment are determined not by complicated equations, but by sets of logical rules (Blair et al, 2001); -fuzzy logic risk assessment can be used for cases with input data that is vague, imprecise and insufficient (Darbra and Casal, 2009); -results of risk assessment by fuzzy logic are easy for decision-making. In fact, managers can understand results and outgoings better and more precisely; -partial failures can be studied by fuzzy sets and make it possible to conduct study of risk in more detail and more real conditions.…”
Section: Fuzzy Logicmentioning
confidence: 99%
“…However, in realistic energy management systems, many parameters/coefficients as well as the irrelations may have uncertain natures with multiple dimensions and layers [9,10,[179][180][181][182][183]. Over the past decades, the most common approaches for dealing with uncertainties in optimization modeling included interval, stochastic, and fuzzy-set-based methods as well as their hybrids [9][10][11][184][185][186][187][188].…”
Section: Inexact Optimization Modelingmentioning
confidence: 99%
“…Risk can be measured by pairing the probability of occurrence of an event, and the outcomes or consequences associated with that occurrence. This pairing is not a mathematical operation, a scalar or vector quantity, but a matching of the probability of the event occurring with the expected consequence [7].…”
Section: Risk Assessment and Risk Managementmentioning
confidence: 99%
“…It is therefore possible to classify the uncertainties associated with risk in two broad categories [17,7]: (1) stochastic (due to the randomness); and, (2) cognitive (due to the vagueness of expertÕs judgments). To accommodate these kinds of uncertainty, there are two main techniques: (1) probability theory (for stochastic uncertainties); and, (2) possibilistic theory (i.e.…”
Section: Dealing With the Uncertaintymentioning
confidence: 99%