Knowledge Base Repository
In addition to research papers, the Design Society is developing several valuable resources for those interested in the study of design. These include a repository of PhD theses, a library of case studies and transcripts of design activities, and an archive of our newsletters. Please note that these resources are accessible exclusively to Design Society members.
A Networked Approach for Assessing Risks to the Electric Grid
O’Connor, Patrick; Gest, Johnny; Dister, Carl; Browning, Tyson
Type:
Year:
2020
Editor:
Harold (Mike) Stowe; Tyson R. Browning; Steven D. Eppinger; Jakob Trauer
Author:
Series:
DSM
Institution:
ReliabilityFirst Corporation, United States of America; Neeley School of Business, Texas Christian University
Section:
Project Management
Page(s):
10
DOI number:
ISBN:
978-1-912254-12-5
Abstract:
This paper examines the interrelatedness of risks in the context of risk analysis with the goal of providing valuable outcomes for regulators, specifically the example of ReliabilityFirst as a regulator of the bulk power system (BPS). A focus on the novel concept of the “time lag” associated with network risks demonstrates the importance of accurate risk ranking. Using a design structure matrix (DSM) to model relationships, the possibility of causal relationships between risks to the BPS was assessed by industry experts. The assessment asked the experts to identify the probability and impact of each risk in isolation, as well as a smaller subset of the experts weighting the interrelatedness of the identified risks. The outcomes show that applying a networked approach to risk analysis provides a more comprehensive understanding of risk relationships, which results in greater opportunities for addressing risks in the most effective order.
Keywords:
