Search results for "Stochastic hydrology"

Screening Investments to Reduce the Risk of Hydrologic Failures in the Headwork System Supplying Apulia (Italy) – Role of Economic Evaluation and Ope…

2014

The paper introduces and applies a methodology to screen investments aimed at reducing water supply risks due to hydrologic failures in headwork systems for municipal use, based on the principles of cost-benefit analysis. As risk includes both the probability of a failure and its effect, the methodology combines a simulation module of the system, fed by a stochastic hydrologic input to reproduce the probability distribution of the failures, with a metric for supply failure damage provided by the price – demand relationship for municipal water. Benefits are assessed as the averted damage compared to a base case without investments. This approach is then combined with the classic discounted c…