Framework Methodology for Risk-Based Decision Making for Transportation Agencies

Abstract

AbstractThis study develops a framework for risk-based decision making for the design, operation, and maintenance of various types of transportation facilities and entities. This framework is grounded in current practice and risk management theories and operationalizes a decision-making framework that is applicable at multiple levels in an organization. The framework defines all crucial steps: technical components of risk assessment, communication logistics, and information systems. The approach is illustrated by two examples. The primary example demonstrates the framework through the context of allocating resources for the inspection and maintenance of a portfolio of signalized mast arms. A qualitative risk assessment method is used, informed by extensive inspection records from the Colorado DOT and finite-element models for mast arms, to recommend varied inspection frequencies based on current structural defects present. A secondary example uses a more quantitative risk assessment approach to inform sei...