Modelling the efficiency of infrastructure repair based on the risk process

To improve the efficiency of railway infrastructure repairs, it is proposed to introduce an insurance fund, which performs two functions: it accumulates payments with different frequency and cost for performing different types of repair work; it pays for these works as necessary. To mathematically d...

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Bibliographic Details
Published in:IOP conference series. Materials Science and Engineering 2021-05, Vol.1151 (1), p.12030
Main Authors: Krakovsky, Y M, Hoang, N A, Ivanyo, Ya M
Format: Article
Language:English
Subjects:
Indicators
Infrastructure
Insurance
Repair
Risk
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Summary:To improve the efficiency of railway infrastructure repairs, it is proposed to introduce an insurance fund, which performs two functions: it accumulates payments with different frequency and cost for performing different types of repair work; it pays for these works as necessary. To mathematically describe the state of the insurance fund, it is suggested that the risk process of a special kind be used. This approach made it possible to introduce indicators of repairs in the form of resource-cost and financial risks, considering the possibility of non-performance of repairs due to lack of funds. To study these indicators, a modeling program has been created in the MATLAB environment, based on the event-driven approach. Experiments with the modelling program led to the conclusion that, in terms of a minimum_of risk values, preference should be given to the option when the shares and frequency of payments should depend on the type of repair work and initial data.
ISSN:1757-8981
1757-899X
DOI:10.1088/1757-899X/1151/1/012030