Economic tools are needed to help the owners, managers, and designers of constructed facilities 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. Developing a cost-effective risk mitigation plan involves assessing the risks associated with natural and man-made hazards, formulating combinations of mitigation strategies for constructed facilities exposed to those hazards, and using economic tools to identify the most cost-effective combination of strategies. Developing a risk mitigation plan requires both guidance and data. Guidance is needed to help owners and managers to assess the risks facing their facility. Data about the frequency and consequences of natural and man-made hazards are needed when assessing the risks that a particular facility faces from these hazards. Estimates of the costs of protection are needed to insure that safeguarding personnel and physical assets and satisfying financial constraints are kept in balance. Although there is a great deal of high-quality information available on risk assessment and risk management, natural and man-made hazards, and economic tools, there is no central source of data and tools to which the owners and managers of constructed facilities and other key decision makers can turn for help in developing a cost-effective risk mitigation plan. This document provides an annotated bibliography of printed and electronic resources that serves as a central source of data and tools to help the owners, managers, and designers of constructed facilities develop a cost-effective risk mitigation plan.
Citation: NIST Interagency/Internal Report (NISTIR) - 7390
NIST Pub Series: NIST Interagency/Internal Report (NISTIR)
Pub Type: NIST Pubs
building economics, construction, economic analysis, hazards, homeland security, risk assessment, terrorism