Group (perhaps as an outgrowth or continuation of the Metrics Working Group) should be established to address questions of data gathering and to identify appropriate milestones and timelines for implementation of a quantitative methodology.” ORA expresses concern that using subject matter experts in place of data may be inadequate for accurate risk estimation. According to MGRA, it generally aligned with ORA’s position, though “is we believe that the Commission should adopt a more aggressive timeline to move towards a common methodology.” MGRA observes that the utility approach” will help the “multiattribute Commission focus on safety priorities and choose from a portfolio of possible risk mitigation strategies. is an analytical (rather than simulation) approach “It that concentrates on the impacts of hazards on utility assets and potential consequences.” MGRA points out a number of advantages of the approach. First, they contend that the Intervenor White Paper a convincing argument that “makes optimization techniques will result in a superior risk mitigation strategy over simple ranking of projects by cost/benefit analysis.” It maintains that the utility” models enables the goals of costbenefit analysis to be “multiattribute realized by ensuring utilities are spending their safety dollars in the most effective way. Using multiple attributes, which represent multiple values (that may not have a dollar value assigned) may facilitate the optimization of solutions by taking into account not only safety concerns, but environmental and other concerns as well. Second, use of subject matter experts provides an interim quantitative risk measure, which the utilities’ concerns that “addresses
Group (perhaps as an outgrowth or continuation of the Metrics Working Group) should be established to address questions of data gathering and to identify appropriate milestones and timelines for implementation of a quantitative methodology.” ORA expresses concern that using subject matter experts in place of data may be inadequate for accurate risk estimation. According to MGRA, it “is generally aligned with ORA’s position, though we believe that the Commission should adopt a more aggressive timeline to move towards a common methodology.” MGRA observes that the “multiattribute utility approach” will help the Commission focus on safety priorities and choose from a portfolio of possible risk mitigation strategies. “It is an analytical (rather than simulation) approach that concentrates on the impacts of hazards on utility assets and potential consequences.” MGRA points out a number of advantages of the approach. First, they contend that the Intervenor White Paper “makes a convincing argument that optimization techniques will result in a superior risk mitigation strategy over simple ranking of projects by cost/benefit analysis.” It maintains that the “multiattribute utility” models enables the goals of costbenefit analysis to be realized by ensuring utilities are spending their safety dollars in the most effective way. Using multiple attributes, which represent multiple values (that may not have a dollar value assigned) may facilitate the optimization of solutions by taking into account not only safety concerns, but environmental and other concerns as well. Second, use of subject matter experts provides an interim quantitative risk measure, which “addresses the utilities’ concerns that
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