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TECHNICAL PAPERS

Optimality and Acceptance Criteria in Offshore Design

[+] Author and Article Information
Oliver Kübler, Michael Havbro Faber

Swiss Federal Institute of Technology, Institute of Structural Engineering, IBK, ETH Hoenggerberg, CH-8093 Zurich, Switzerland

J. Offshore Mech. Arct. Eng 126(3), 258-264 (Sep 20, 2004) (7 pages) doi:10.1115/1.1782641 History: Received September 01, 2002; Revised August 28, 2003; Online September 20, 2004
Copyright © 2004 by ASME
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References

Figures

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Simplified decision analysis
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Normalized income function and applied approximation
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Construction costs CC versus RSR
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Annual probability of failure Pf,a, annual failure rate λ and corresponding reliability index βa as a function of RSR
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Expected net present value of the life cycle benefit E[B] for different failure costs ratios ρCF
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Optimal reserve strength ratio RSRopt for different failure costs ratios ρCF
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Optimal reserve strength ratio RSRopt for varying number of fatalities NF and ρICAF
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Optimal annual failure rates for varying number of fatalities NF and ρICAF
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Expected net present value of the life cycle benefit E[B] for different interest rates r
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Optimal reserve strength ratio RSRopt for different interest rates r and failure costs ρCF
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Comparison of different decision approaches

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