Integration of Socio-Economic Value to the Development of Risk Acceptance Criteria

The management of
risk of technological hazards is often founded upon historical risk experience
and normative judgment. One of the required outcomes of such efforts is the
proposal of risk acceptance criteria (RAC). However, a RAC needs to be compatible
with the socio-economic conditions and constraints. The present work will
involve the development of a methodology to establish a RAC by integrating
historical risk data and national performance indices such as the Life Quality Index
or the Human Development Index

Proposing Faculty
Research Area
  • Process Safety Analysis