Multi-objective optimization of hazardous substance storage facilities. The decision between risks and costs associated to the project

Abstract

The design storage installations for dangerous substances can be optimized from a safety and risk point of view by combining quantitative risk analysis and mathematical optimization techniques; the consequences of accidents are directly proportional to the mass involved in them, which means that in a storage installation, if the totality of the stored substance is divided into more tanks, the consequences when an accident occurs in any of the units will be less significant than if all the mass was stored in one tank (in installations where there is low possibility of domino effect occurrence). However, as more tanks are used to store the mass, the economical investment will also increase; then, a situation arises between two conflicting objectives, that can be solved through the use of multi objective optimization.