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Structure Optimization of Safety Investment of Petrochemical Port Enterprises

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  • Zhiqiang Hou
  • Peng Zhao

Abstract

Safety investment is an essential guarantee to identify and manage potential security problems in petrochemical port enterprises. The reasonability of safety investment structure determines overall security risks in an enterprise. Based on the definition of risks, combining Cobb-Douglas production function with FTA probability model, and taking Gompertz curve model as the constraint condition, structure optimization model of safety investment is built in order to minimize risks and work out the safety investment structure of petrochemical port enterprises. According to the case study, the calculations indicate that safety investment in corporate management presents a larger growth rate than past years and that unsafe act of human being is the main factor accounting for the greatest probability of occurrence, which is consistent with previous accident investigation results as well as enterprise reality. This testifies that the model is effective and that the results can guide the allocation of safety investment of petrochemical port enterprises scientifically.

Suggested Citation

  • Zhiqiang Hou & Peng Zhao, 2017. "Structure Optimization of Safety Investment of Petrochemical Port Enterprises," Mathematical Problems in Engineering, Hindawi, vol. 2017, pages 1-5, May.
    • Handle: RePEc:hin:jnlmpe:3491290
    DOI: 10.1155/2017/3491290
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    Cited by:

    1. Wang, Lei & Liu, Qing & Dong, Shiyu & Guedes Soares, C., 2022. "Selection of countermeasure portfolio for shipping safety with consideration of investment risk aversion," Reliability Engineering and System Safety, Elsevier, vol. 219(C).

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