Authors: Velimirović, Jelena 
Janjić, Aleksandar
Velimirović, Lazar 
Vranić, Petar 
Affiliations: Mathematical Institute of the Serbian Academy of Sciences and Arts 
Title: Risk analysis based on Bayesian networks and a multi-criteria decision-making method – selection of Circuit-breakers for the 110kv substations
First page: 241
Last page: 249
Conference: XIII International May Conference on Strategic Management - IMKSM 2017, Bor, Serbia, May 19-21, 2017
Issue Date: 2017
Rank: M33
ISBN: 978-86-6305-059-4
Literature that deals with risk analysis in energy sector shows that the use of Bayesian networks, as one of the methods for risk assessment in this context, is well recognized. Therefore, authors of this paper are using Bayesian networks and Analytic Hierarchy Process, which is also considered to be one of the most widely used multi-criteria decision-making methods, to determine the optimal circuit-breaker - oil, vacuum or SF6 – for the 110kV substations with regard to safety, economic and ecological risks. Comparing the alternatives (circuit-breaker) in relation to the criteria (safety, costs, environment), the authors determined which circuit-breaker should be used in order to obtain the lowest possible risk.
Keywords: Risk | Bayesian networks | Analytic Hierarchy Process | Circuit-breakers
Publisher: University of Belgrade Technical Faculty in Bor Management Department
Project: Development of new information and communication technologies, based on advanced mathematical methods, with applications in medicine, telecommunications, power systems, protection of national heritage and education 

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