Abstract
An optimisation procedure is described which minimises the risk in a system in which various failure modes can occur, by optimally allocating expenditures in a set of investment modes and subject to an overall cost constraint. An example is given, which illustrates that the model is transparent.
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References
de Neufville, R. and Stafford, J. H., (1971), System Analysis for Engineers and Managers, McGraw-Hill, New York.
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© 1992 Springer Science+Business Media Dordrecht
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Elms, D.G. (1992). Risk Balancing Approaches. In: Topping, B.H.V. (eds) Optimization and Artificial Intelligence in Civil and Structural Engineering. NATO ASI Series, vol 221. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-2490-6_5
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DOI: https://doi.org/10.1007/978-94-017-2490-6_5
Publisher Name: Springer, Dordrecht
Print ISBN: 978-90-481-4201-9
Online ISBN: 978-94-017-2490-6
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