Risk Mitigation Plan for Optimizing Protection o fConstructed Facilities.
Risk Mitigation Plan for Optimizing Protection o
fConstructed Facilities.
(7544 K)
Marshall, H. E.; Chapman, R. E.; Leng, C. J.
Cost Engineering, Vol. 46, No. 8, 26-33, August 2004.
Keywords:
building construction; risks; planning; disasters;
economcis; life cycle costing; optimization; risk
mitigation; terrorism; damage; case histories; risk
assessment; computer programs; emergency plans;
evaluaiton; costs; equations; building management
Abstract:
Owners and managers of constructed facilities need help
in optimizing protection against natural hazards and
terrorist acts that occur infrequently, but result in
devastating damages. The World Trade Center and Pentagon
attacks in 2001 magnified this need in the minds of
facility designers, constructors, owners, insurers, and
occupants. This article describes a three-step protocol
for satisfying this need. Step I is to assess the risk
of uncertain, costly, manmade and natural hazards,
including terrorism, floods, earthquakes, and fire. A
summary of constructed facilities in the US, by type,
number, and measures of area, establishes the potential
for damages. Described tools for evaluating risk are
the Construction Industry Institute Security Rating
Index and the RAMPART software product. Step 2 is to
identify alternative risk mitigation strategies, used
singly or in combination, to reduce the expected value
of damages from
such events. Potential strategies include engineering al
ternatives, management practices, and financial
mechanisms. Step 3 is to evaluate the life-cycle
economic effectiveness of alternative mitigation
strategies. Economic methods based on the American
Society for Testing and Materials (ASTM) standard
practices and software for implementing the methods are
described. Acase study for a typical commercial building
shows how to measure outcomes from alternative terrorist
mitigation measures and choose the optimal protection
package based on life-cycle cost analysis. Single value
estimates and sensitivity analysis descriptions of the
economic measures support a combination of renovation
investments to protect the building.
