TY - GEN
T1 - Quantifying the benefit of SHM
T2 - 11th International Workshop on Structural Health Monitoring 2017: Real-Time Material State Awareness and Data-Driven Safety Assurance, IWSHM 2017
AU - Bolognani, Denise
AU - Verzobio, Andrea
AU - Tonelli, Daniel
AU - Cappello, Carlo
AU - Glisic, Branko
AU - Zonta, Daniele
PY - 2017
Y1 - 2017
N2 - The research community generally recognizes the Value of Information (VoI) as a realistic indicator of the benefit of the information provided by a monitoring system in structures management. Even though many authors have recently focused on the assessment of the VoI, most of their works do not consider the presence of two individuals in the decision process of whether to install a monitoring system, the owner and the manager of the structure. In this contribution, we define a framework to quantifying the VoI of a monitoring system by considering these two separate individuals, who have a different aversion toward risk. Moreover, we apply the results on a real-life case study concerning the Streicker Bridge in Princeton, NJ, in the USA. This framework aims to help the owner in quantifying the money saved by entrusting the evaluation of the state of the structure to the monitoring system, even if the manager's behaviour toward risk is different from the owner's own, and so are his or her management decisions. The results of the case study confirm the difference in the two way to quantify the VoI of a monitoring system.
AB - The research community generally recognizes the Value of Information (VoI) as a realistic indicator of the benefit of the information provided by a monitoring system in structures management. Even though many authors have recently focused on the assessment of the VoI, most of their works do not consider the presence of two individuals in the decision process of whether to install a monitoring system, the owner and the manager of the structure. In this contribution, we define a framework to quantifying the VoI of a monitoring system by considering these two separate individuals, who have a different aversion toward risk. Moreover, we apply the results on a real-life case study concerning the Streicker Bridge in Princeton, NJ, in the USA. This framework aims to help the owner in quantifying the money saved by entrusting the evaluation of the state of the structure to the monitoring system, even if the manager's behaviour toward risk is different from the owner's own, and so are his or her management decisions. The results of the case study confirm the difference in the two way to quantify the VoI of a monitoring system.
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UR - http://www.scopus.com/inward/citedby.url?scp=85032454338&partnerID=8YFLogxK
U2 - 10.12783/shm2017/14003
DO - 10.12783/shm2017/14003
M3 - Conference contribution
AN - SCOPUS:85032454338
T3 - Structural Health Monitoring 2017: Real-Time Material State Awareness and Data-Driven Safety Assurance - Proceedings of the 11th International Workshop on Structural Health Monitoring, IWSHM 2017
SP - 1324
EP - 1331
BT - Structural Health Monitoring 2017
A2 - Chang, Fu-Kuo
A2 - Kopsaftopoulos, Fotis
PB - DEStech Publications
Y2 - 12 September 2017 through 14 September 2017
ER -