- Title
- Terror, security, and money: assessing the cost-effectiveness of critical infrastructure protection
- Creator
- Stewart, Mark G.; Mueller, John
- Relation
- 5th Asian-Pacific Symposium on Structural Reliability and its Applications. Proceedings of the 5th Asian-Pacific Symposium on Structural Reliability and its Applications (Singapore 23-25 May, 2012) p. 695-700
- Relation
- ARC
- Publisher Link
- http://dx.doi.org/10.3850/978-981-07-2219-7_P132
- Publisher
- Research Publishing Services
- Resource Type
- conference paper
- Date
- 2012
- Description
- The use of decision theory to determine acceptability of risk is crucial to prioritise protective measures for built infrastructure. The paper will assess terrorist threats to critical infrastructure and the cost-effectiveness of protective and counter-terrorism measures. This analysis will consider threat likelihood, cost of security measures, risk reduction and expected losses to compare the costs and benefits of security measures to decide which security measures are costeffective. In this paper, we focus on bridges and apply break-even cost-benefit analysis to determine the minimum probability of a successful attack that is required for the benefit of the security measures to equal their cost. It was found that unless terrorist threat probabilities are high, then typical protective measures are not cost-effective.
- Subject
- security; terrorism; cost-benefit analysis; probability; risk
- Identifier
- http://hdl.handle.net/1959.13/1308550
- Identifier
- uon:21664
- Identifier
- ISBN:9789810722197
- Language
- eng
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