A Risk Management-based Decision Analysis Framework for resilience in Maritime Infrastructure and Transportation Systems

Abstract

This research is an effort to develop a Risk Management-based Decision Analysis (RMDA) Framework based on the common fundamental elements that define the nature of resilience in Maritime Infrastructure and Transportation Systems (MITS). While developing a systematic process for making strategic and investment decisions, RMDA enables the decision-makers to identify, analyze, and prioritize risks involved in MITS operations; to define ways for risk mitigation, plan for contingencies, and devise mechanisms for continuously monitoring and controlling risk factors and threats to the system. Our suggested RMDA framework utilizes a Decision Tree Analysis (DTA) methodology for assessing the cost-effectiveness of the devised strategies.