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Dynamic quantitative operational risk assessment of chemical processes

Citation

Wang, H and Khan, FI and Ahmed, S and Imtiaz, S, Dynamic quantitative operational risk assessment of chemical processes, Chemical Engineering Science, 142 pp. 62-78. ISSN 0009-2509 (2016) [Refereed Article]

Copyright Statement

Copyright 2015 Elsevier Ltd. All rights reserved.

DOI: doi:10.1016/j.ces.2015.11.034

Abstract

This paper presents a novel dynamic quantitative risk assessment method to analyze the operational performance of chemical processes. Unlike traditional methods, the proposed method estimates the probability of undesirable event occurrence by monitoring multiple key variables in the process. This probability is continuously updated considering real-time disturbances in the variables. The consequences are estimated using dynamic loss functions developed considering multiple key state variables. As a result, the process[U+05F3] operational performance is assessed dynamically in the form of quantitative risk (dollar) value. The quantitative dynamic risk value helps to make swift operational decisions to maintain the process within the safer operating limits, thus preventing untoward incidents/accidents. To demonstrate the efficacy of the proposed methodology, it is tested on two case studies, a simple tank system and the benchmark Tennessee Eastman process.

Item Details

Item Type:Refereed Article
Keywords:dynamical loss functions, dynamical risk assessment, multiple variables monitor, operational performance, probability updating, chemical analysis, probability, risks, loss functions, operational decisions, operational performance, operational risks
Research Division:Engineering
Research Group:Interdisciplinary Engineering
Research Field:Risk Engineering (excl. Earthquake Engineering)
Objective Division:Expanding Knowledge
Objective Group:Expanding Knowledge
Objective Field:Expanding Knowledge in Engineering
Author:Khan, FI (Professor Faisal Khan)
ID Code:120416
Year Published:2016
Web of Science® Times Cited:4
Deposited By:NC Maritime Engineering and Hydrodynamics
Deposited On:2017-08-24
Last Modified:2017-11-06
Downloads:0

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