Economic tools are needed to help the owners and managers of buildings, industrial facilities, and other critical infrastructure to select cost-effective combinations of mitigation strategies that respond to natural and man-made hazards. Economic tools include evaluation methods, standards that support and guide the application of those methods, and software for implementing the evaluation methods. Detailed descriptions of the evaluation methods and associated standards are presented in NISTIR 7073. This document focuses on the cost-effectiveness tool software; it describes: the input data requirements for the software, the hierarchy of software screens, the strategy for analyzing complex decision problems, the types of reports produced, and on-line help features. Guidance is also given on how to choose the most cost-effective risk mitigation plan from a set of alternative combinations of mitigation strategies.
Citation: International Journal of Web Services Research
Pub Type: Journals
building economics, construction, economic analysis, homeland security, life-cycle cost analysis, risk mitigation, software