Risk Analysis and Risk Measures Applied to the Furniture Industry
| Autor: | Irene Brito, Matilde A. Rodrigues, Celina Pinto Leão |
|---|---|
| Rok vydání: | 2021 |
| Předmět: |
Risk analysis
050210 logistics & transportation Computer science 020209 energy 05 social sciences Furniture industry 02 engineering and technology Expected shortfall Risk analysis (engineering) Order (exchange) 8. Economic growth 0502 economics and business 0202 electrical engineering electronic engineering information engineering Random variable Expected loss Value at risk Risk quantification |
| Zdroj: | Lecture Notes in Mechanical Engineering ISBN: 9783030791643 |
| Popis: | In this work we show how concepts and methods from actuarial risk theory can be applied to risk analysis in industry. Risk analysis consists in identifying, quantifying and classifying or ordering risks. In the proposed methodology, the risks identified in industrial setting, are modeled by loss random variables. The loss random variables are used to calculate the expected loss, the loss variance and exceedance probabilities permitting risk quantification. In order to classify and order risks, besides measures of uncertainty, risk measures, such as Value-at Risk and Tail-Value-at-Risk (or Expected Shortfall) are determined and, together with risk quantification, the risk levels are analysed. To exemplify this methodology, a case study for risk analysis and classification of occupational accidents in the furniture industry was carried out. |
| Databáze: | OpenAIRE |
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