Decision criteria in PSA applications

Jan-Erik Holmberg, Urho Pulkkinen, Tony Rosqvist, Kaisa Simola

    Research output: Book/ReportReport

    Abstract

    Along with the adoption of risk informed decision making principles, the need for formal probabilistic decision rule or criteria has been risen. However, there are many practical an theoretical problems in the application of probabilistic criteria. One has to think what is the proper way to apply probabilistic rules together with deterministic ones and how the criteria are weighted with respect to each other. In this report, we approach the above questions from the decision theoretic point discuss examples of their use. We present a decision analytic framework for evaluating the criteria, and we analyse how the different criteria behave under incompleteness or uncertainty of the PSA model. As the conclusion of our analysis we give recommendations on the application of the criteria in different decision situations.
    Original languageEnglish
    Place of PublicationRoskilde
    Number of pages24
    Publication statusPublished - 2002
    MoE publication typeD4 Published development or research report or study

    Publication series

    SeriesNKS Reports
    Number44

    Keywords

    • decision criteria
    • PSA
    • risk informed decision making

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  • Cite this

    Holmberg, J-E., Pulkkinen, U., Rosqvist, T., & Simola, K. (2002). Decision criteria in PSA applications. NKS Reports, No. 44 http://www.nks.org/en/nks_reports/view_document.htm?id=111010111119750