@article{ref1,
title="A multicriteria knapsack approach to economic optimization of industrial safety measures",
journal="Safety science",
year="2013",
author="Caputo, Antonio C. and Pelagagge, Pacifico M. and Salini, Paolo",
volume="51",
number="1",
pages="354-360",
abstract="The selection of safety measures to be applied in an industrial plant to reduce risk to an acceptable level is a critical task for safety engineers. However, to select a portfolio of safety measures is quite hard as a number of different hazards have to be counteracted simultaneously and a wide range of preventive or protective measures can be chosen, including either technical, administrative and managerial actions, within the constraints of a given budget. In this paper a multi-criteria &quot;knapsack&quot; model is described to help safety analysts in selecting the most cost-effective safety measures to be adopted. The problem is formulated as that of maximizing the utility of the portfolio of safety measures subject to a number of constraints including a maximum allowable budget. In the paper at first the problem formulation is given as a knapsack model, then the approach to compute the utility level of a given portfolio of safety measure is described utilizing a multi-criteria method. Finally, an application example is presented and the advantages and disadvantages of the method are discussed.<p />",
language="",
issn="0925-7535",
doi="10.1016/j.ssci.2012.08.002",
url="http://dx.doi.org/10.1016/j.ssci.2012.08.002"
}