Derivation of optimal operating policies and runaway boundaries for a semibatch reactor (SBR), when highly exothermic reactions are conducted and hazardous side reactions may occur, is a difficult task because of multiple sources of process uncertainty to be considered (variability in raw materials, catalyst, impurities, model inaccuracies, measurement errors, technological, economic and safety constraints). The present work introduces a new criterion based on failure probability indices related to uncertainty in the runaway boundaries and disturbances of the operating parameters. Such a criterion is used not only to derive more prudent SBR optimal operating policies but also to appreciate rapprochement to critical conditions. An example is provided for an SBR used for conducting the hazardous acetoacetylation of pyrrole with diketene in homogeneous liquid phase catalysis. Both uncertainties in evaluating the runaway boundaries, with a generalized sensitivity criterion, and of the running conditions are used to generate optimal operating strategies, making a satisfactory compromise between the productivity goal and safety requirements.