Our team was assigned the assessment of natural-hazard-induced maximum loss for the OLYMPIA ODOS transportation network considering both direct and indirect costs and subsequently to optimize potential investments to further reduce the insurance premium. The study included: (1) advanced analysis of the hazard sources and vulnerability assessment for all road infrastructure components and assessment of risk in several scenarios, and (2) assessment of the effects of suspension of operations (i.e. due to damage or for retrofitting), evaluated by means of a traffic assignment model which allows realistic estimation of indirect losses.
The outcome was delivered in the form of an interactive web-based tool to support mid and downstream decisions by the concessionaire. The tool: (a) presents in several layers the hazards, exposure of assets, and their calculated fragilities based on their taxonomy and vulnerabilities; (b) is able to calculate several risk scenarios allowing non-expert users to select hazard source and intensity while being able to distinguish among assets by applying filters; (c) may evaluate the efficiency of various intervention options considering both technical and non-technical parameters, correlate them with their costs and, using a purpose-built algorithm, optimizes potential expenditure in order to maximize the assets’ climate resilience.