Investment appraisal using quantitative risk analysis
(2002) In Journal of Hazardous Materials 93(1). p.77-91- Abstract
- Investment appraisal concerned with investments in fire safety systems is discussed. Particular attention is directed at evaluating, in terms of the Bayesian decision theory, the risk reduction that investment in a fire safety system involves. It is shown how the monetary value of the change from a building design without any specific fire protection system to one including such a system can be estimated by use of quantitative risk analysis, the results of which are expressed in terms of a Risk-adjusted net present value. This represents the intrinsic monetary value of investing in the fire safety system. The method suggested is exemplified by a case study performed in an Avesta Sheffield factory. (C) 2002 Elsevier Science B.V. All rights... (More)
- Investment appraisal concerned with investments in fire safety systems is discussed. Particular attention is directed at evaluating, in terms of the Bayesian decision theory, the risk reduction that investment in a fire safety system involves. It is shown how the monetary value of the change from a building design without any specific fire protection system to one including such a system can be estimated by use of quantitative risk analysis, the results of which are expressed in terms of a Risk-adjusted net present value. This represents the intrinsic monetary value of investing in the fire safety system. The method suggested is exemplified by a case study performed in an Avesta Sheffield factory. (C) 2002 Elsevier Science B.V. All rights reserved. (Less)
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/332687
- author
- Tehler, Henrik LU
- organization
- publishing date
- 2002
- type
- Contribution to journal
- publication status
- published
- subject
- keywords
- decision analysis, investment appraisal, fire, Bayesian updating, protection, risk analysis
- in
- Journal of Hazardous Materials
- volume
- 93
- issue
- 1
- pages
- 77 - 91
- publisher
- Elsevier
- external identifiers
-
- pmid:12062955
- wos:000177016400007
- scopus:0036644134
- ISSN
- 1873-3336
- DOI
- 10.1016/S0304-3894(02)00040-7
- language
- English
- LU publication?
- yes
- id
- 12001808-afdd-4f3f-ada4-bcd5e0601687 (old id 332687)
- date added to LUP
- 2016-04-01 12:17:36
- date last changed
- 2022-01-27 01:39:30
@article{12001808-afdd-4f3f-ada4-bcd5e0601687, abstract = {{Investment appraisal concerned with investments in fire safety systems is discussed. Particular attention is directed at evaluating, in terms of the Bayesian decision theory, the risk reduction that investment in a fire safety system involves. It is shown how the monetary value of the change from a building design without any specific fire protection system to one including such a system can be estimated by use of quantitative risk analysis, the results of which are expressed in terms of a Risk-adjusted net present value. This represents the intrinsic monetary value of investing in the fire safety system. The method suggested is exemplified by a case study performed in an Avesta Sheffield factory. (C) 2002 Elsevier Science B.V. All rights reserved.}}, author = {{Tehler, Henrik}}, issn = {{1873-3336}}, keywords = {{decision analysis; investment appraisal; fire; Bayesian updating; protection; risk analysis}}, language = {{eng}}, number = {{1}}, pages = {{77--91}}, publisher = {{Elsevier}}, series = {{Journal of Hazardous Materials}}, title = {{Investment appraisal using quantitative risk analysis}}, url = {{http://dx.doi.org/10.1016/S0304-3894(02)00040-7}}, doi = {{10.1016/S0304-3894(02)00040-7}}, volume = {{93}}, year = {{2002}}, }