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The contents of this report reflect the views of the author(s), who is responsible for the facts and the accuracy of the data presented herein. The contents do not necessarily reflect the official views or policies of the Virginia Department of Transportation, the Commonwealth Transportation Board, or the Federal Highway Administration. This report does not constitute a standard, specification, or regulation. Any inclusion of manufacturer names, trade names, or trademarks is for identification purposes only and is not to be considered an endorsement.

Title:

A Risk Assessment Methodology for Critical Transportation Infrastructure
Authors:
Haimes, Yacov Y.
Lambert, James Hamilton.
Kaplan, S.
Pikus, I.
Leung, F.
Wayne S. Ferguson
Year: 2002
VTRC No.: 02-CR5
Abstract: Infrastructure protection typifies a problem of risk assessment and management in a large-scale system. This study offers a methodological framework to identify, prioritize, assess, and manage risks. It includes the following major considerations: (1) a holistic approach to risk identification; (2) prioritization of a large number of risks or risk scenarios; (3) structured solicitation and effective integration of expert judgment into qualitative and quantitative analyses to supplement limited data availability; (4) extreme and catastrophic event analysis; and (5) use of multiobjective framework to evaluate management options (i.e., analyzing trade-offs among noncommensurate, conflicting objectives such as risk and cost). The methodology was illustrated using five case studies of selected transportation infrastructures in the Commonwealth of Virginia.