Allocating Resources to Enhance Resilience, with Application to Superstorm Sandy and an Electric Utility

Risk Analysis : an Official Publication of the Society for Risk Analysis
Cameron A MacKenzie, Christopher W Zobel

Abstract

This article constructs a framework to help a decisionmaker allocate resources to increase his or her organization's resilience to a system disruption, where resilience is measured as a function of the average loss per unit time and the time needed to recover full functionality. Enhancing resilience prior to a disruption involves allocating resources from a fixed budget to reduce the value of one or both of these characteristics. We first look at characterizing the optimal resource allocations associated with several standard allocation functions. Because the resources are being allocated before the disruption, however, the initial loss and recovery time may not be known with certainty. We thus also apply the optimal resource allocation model for resilience to three models of uncertain disruptions: (1) independent probabilities, (2) dependent probabilities, and (3) unknown probabilities. The optimization model is applied to an example of increasing the resilience of an electric power network following Superstorm Sandy.

References

Jul 24, 2013·Risk Analysis : an Official Publication of the Society for Risk Analysis·Bilal M Ayyub
Mar 1, 2014·Risk Analysis : an Official Publication of the Society for Risk Analysis·Hiba BaroudClaudio M Rocco
Jun 14, 2014·Risk Analysis : an Official Publication of the Society for Risk Analysis·Hiba BaroudClaudio M Rocco

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Citations

Oct 31, 2017·Risk Analysis : an Official Publication of the Society for Risk Analysis·Andrew M SmithRaissa M D'Souza
Jun 7, 2019·Risk Analysis : an Official Publication of the Society for Risk Analysis·Yanyan WangBaiqing Sun
Feb 14, 2021·Risk Analysis : an Official Publication of the Society for Risk Analysis·C Derrick HuangChristopher W Zobel
Jun 22, 2021·Risk Analysis : an Official Publication of the Society for Risk Analysis·Milad Baghersad, Christopher W Zobel
Oct 16, 2021·Risk Analysis : an Official Publication of the Society for Risk Analysis·Qianru Zhu, Benjamin D Leibowicz

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