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Risk Assessment

Single Sites – Risk Engineering’s software package, ST-RISKTM, brings single-site earthquake risk assessment to a new level. Whether you are doing Probable Maximum Loss (PML) analyses or providing other risk assessment information to your client in order to make decisions, this product will make the process easy to understand. Structural engineers can demonstrate to their clients how retrofits will affect overall structural performance, and can present cost-benefit comparisons of alternative retrofit options.

Multiple Sites – Our latest portfolio analysis software, AllRiskTM, analyzes the earthquake and hurricane risk to a portfolio of insured properties. With this software, insurers, reinsurers, banks and property owners can accurately determine their aggregate risk, and this information helps them decide whether to engage in risk retention, risk transfer, or risk reduction.

Lifelines – This is a complex problem that extends multiple-site risk analysis to a system of components that are connected by pipelines, wires, roads, etc. Assuming that this system, both components and connections, is vulnerable to a natural catastrophe, our SYSRISKTM software can help you understand the risk of partial or total system failure. Given these studies you can decide:

  • How to most efficiently provide for redundancy
  • Where retrofitting will most enhance system resilience
  • Where a system is most vulnerable, given its arrangement and the underlying hazards that may affect performance.
  • Where new lines should be placed to provide the most efficient system performance

Our lifeline analysis looks at system performance as a whole, and working with the client we develop measures of performance that are meaningful for decision making. For example, for an electric utility the number of megawatt-hours of lost revenue might be the critical measure. For a transportation network, the number of additional vehicle miles (or vehicle hours of travel) incurred because of damaged bridges might be most important.