Risk-based decision making and risk management of European Union regional programs
DOI:
https://doi.org/10.2298/YJOR0801075MKeywords:
risk management, risk assessment, risk-based inspection, risk-based decisions, European operational programs, Community Support FrameworkAbstract
This paper presents a generalized method for management decision making incorporating risk assessment techniques. The risk based decision making methodology is applied to European Union expenditure programs used to implement its regional policy, such as the community support framework, community initiatives, special initiatives and other European policies. An example is presented for the development of an audit (inspection) program in the region of West Macedonia, Greece, during the implementation of the 3rd Community Structural Support Framework Operational Program. The generic nature of the method permits its use in the management of similar European regional programs in Greece and other European countries. It is also applicable to many other industries interested in applying risk-based management decisions to physical or process based systems. .References
API RP 579, “Fitness for Service”, American Petroleum Institute, Washington, DC., 1st Edition, January 2000.
API RP 580, “Risk-Based Inspection”, American Petroleum Institute, Washington, DC., 1st Edition, May 2002.
API RP 581, “Base Resource Document – Risk Based Inspection”, American Petroleum Institute, Washington, DC., 1st Edition, May 2000.
ASME CRTD 20-1, “Risk Based Inspection – Development of Guidelines: Volume 1, General Document”, Research Report CRTD Volume 20-1, Center for Research and Technology Development, American Society of Mechanical Engineers, New York, 1991.
ASME CRTD 20-1, “Risk Based Inspection – Development of Guidelines: Volume 2, Part 1, Light Water Reactor (LWR) Nuclear Power Plant Components”, Research Report CRTD Volume 20-2, Center for Research and Technology Development, American Society of Mechanical Engineers, New York, 1992.
ASME CRTD 20-3, “Risk Based Inspection – Development of Guidelines: Volume 3, Fossil Fuel-Fired Electric Power Generating Stations Applications”, Research Report CRTD Volume 20-3, Center for Research and Technology Development, American Society of Mechanical Engineers, New York, 1994.
ASME CRTD 20-4, “Risk Based Inspection – Development of Guidelines: Volume 2, Part 2, Recommended Inspection Program for LWR Nuclear Power Plant Components for ASME Code Section XI Consideration”, Research Report CRTD Volume 20-4, Center for Research and Technology Development, American Society of Mechanical Engineers, New York, 1998.
ASME Nuclear Code Case N-577, “ASME Boiler and Pressure Vessel Code, Section XI, Rules for Inservice Inspection of Nuclear Power Plant Components, Code Cases: Nuclear Components”, American Society of American Engineers, New York, 2004.
ASME Nuclear Code Case N-580, “ASME Boiler and Pressure Vessel Code, Section XI, Rules for Inservice Inspection of Nuclear Power Plant Components, Code Cases: Nuclear Components”, American Society of American Engineers, New York, 2004.
Ayyub, B.M., Elicitation of Expert Opinions for Uncertainty and Risks, CRC Press, Boca Raton, FL, 2001.
Ayyub, B.M., Risk Analysis in Engineering and Economics, Chapman & Hall / CRC, Boca Raton, FL, 2003.
European Commission Report, “Guidance on the Analysis of Risk in the Context of EU Expenditure Programmes”, report prepared by Bramshill Consultancy Limited, Hamshire, England, 2002.
European Commission Workshop, “Workshop on Risk Management”, Joint Workshop of European Commission and Greek Ministry of Economics and Finance, Athens, April 2002.
Hellas CSF 2000-2006, “Hellas Community Support Framework, Community Initiatives and Cohesion Fund”, Greek Ministry of Economics and Finance, Athens, Greece, 2001.
Hellas CSF 2000-2006 OP West Macedonia, “Hellas Community Support Framework, Regional Operational Programme of West Macedonia”, Management Authority of West Macedonia, Kozani, Greece, 2001.
ISO 9001:2000, “Quality Management Systems”, International Organization for Standardization, Geneva, 2000.
Modarres, M., What Every Engineer Should Know About Reliability and Risk Analysis, Marcel Dekker Inc., New York, 1993.
Modarres, M., Kaminsky, M., and Kristov, V., Reliability Engineering and Risk Analysis – A Practical Guide, Marcel Dekker Inc., New York, 1999.
Roland, H.E., and Moriarty, B., System Safety Engineering and Management, John Wiley & Sons, New York, 1990.
Saaty, T. L., Decision Making for Leaders: The Analytical Hierarchy Process for Decisions in a Complex World, Lifetime Learning Pub, April 1982.
Downloads
Published
Issue
Section
License
Copyright (c) 2008 YUJOR
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
