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Article | REF: C8123 V1

Post Farmer Modeling, Measuring and Comparing risks for Industry

Author: Francis CLAUDE

Publication date: December 10, 2019 | Lire en français

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    5. Conclusion

    The aim of this article was to review F. R. Farmer's article half a century after its publication. It appears that this article remains unquestionably modern in the field of risk control, even if this expertise has since, of course, developed new techniques, methods and tools, thanks in particular to advances in operational research.

    Nevertheless, this heritage has been used beyond the nuclear industry, without adapting specific models to the concrete and complex problems that arise. FMEA, probability-impact matrices and probability-consequence diagrams are still commonly used for risk control and/or risk management. What's more, in non-financial companies, the use of criticality remains the norm for quantifying risks other than those relating to safety and/or security issues. However, as we have seen, criticality has been used for FMEA, in particular to identify...

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