Methods to Allow Agencies to Incorporate Quantitative Risk Assessment at Project and Network Level

Risk is defined as the likelihood of damage or loss from a hazard and the susceptibility to all of the related consequences. Managing transportation risk is a critical component of asset management. Transportation agencies spend significant resources on risk mitigation. Risks may be associated with the threat of extreme hazard events that damage transportation infrastructure, cascading or secondary impacts, and unexpected changes to the functionality of infrastructure assets, the budget, or workload resulting from these hazard events. Recent studies have been conducted to improve approaches to risk management for transportation agencies. However, most of these studies treat risk management as a high-level activity. High risk threats may influence optimal resource allocation needed for maintaining infrastructure safety and operations. Further research is needed to develop quantitative, repeatable risk assessment approaches for practitioners assessing the vulnerability of physical transportation assets. This project aims to develop approaches to assess risks (e.g., financial, strategic, operational, political, environmental, technological, social justice risks) and incorporate them into life-cycle analysis and planning efforts. The objectives of this research are to (1) develop risk assessment techniques to determine vulnerabilities to high risk threats at the network level; (2) develop quantitative, repeatable approaches for assessing the likelihood and consequences of these threats to asset management programs (e.g., bridges, culverts, intelligent transportation systems (ITS), road signs, and pavement, etc.); and (3) develop interactive visualization methods (e.g., dashboards, heat maps, etc.) that display quantified risks and reflect an agency’s level of risk and effectiveness following proposed mitigation actions.

Language

  • English

Project

  • Status: Proposed
  • Funding: $500000
  • Contract Numbers:

    Project 23-24

  • Sponsor Organizations:

    National Cooperative Highway Research Program

    Transportation Research Board
    500 Fifth Street, NW
    Washington, DC  United States  20001

    Federal Highway Administration

    1200 New Jersey Avenue, SE
    Washington, DC  United States  20590

    American Association of State Highway and Transportation Officials (AASHTO)

    444 North Capitol Street, NW
    Washington, DC  United States  20001
  • Project Managers:

    Crichton-Sumners, Camille

  • Start Date: 20220615
  • Expected Completion Date: 0
  • Actual Completion Date: 0

Subject/Index Terms

Filing Info

  • Accession Number: 01772199
  • Record Type: Research project
  • Source Agency: Transportation Research Board
  • Contract Numbers: Project 23-24
  • Files: TRB, RIP
  • Created Date: May 24 2021 3:14PM