Integrated framework of risk evaluation and risk allocation with bounded data

Young Min Bae, Young Hoon Lee

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

This paper presents an integrated framework for risk evaluation and risk allocation with bounded data in a critical risk management. A risk evaluation framework using the Imprecise Data Envelopment Analysis (IDEA) method is proposed to be applied to operations of Korean Army helicopters. The risks pertaining to pilots, missions and helicopters are evaluated based on bounded data, and pilots are appropriately allocated to missions and helicopters using goal programming with bounded risk scores. Using bounded data, two risk allocation models are developed to be used with the expected value and lower/upper limit values, resulting in improved reliability of the solutions. Numerical experiments show reasonable solutions and valuable information for risk management.

Original languageEnglish
Pages (from-to)7853-7859
Number of pages7
JournalExpert Systems with Applications
Volume39
Issue number9
DOIs
Publication statusPublished - 2012 Jul 1

Fingerprint

Helicopters
Risk management
Data envelopment analysis
Experiments

All Science Journal Classification (ASJC) codes

  • Engineering(all)
  • Computer Science Applications
  • Artificial Intelligence

Cite this

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Integrated framework of risk evaluation and risk allocation with bounded data. / Bae, Young Min; Lee, Young Hoon.

In: Expert Systems with Applications, Vol. 39, No. 9, 01.07.2012, p. 7853-7859.

Research output: Contribution to journalArticle

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