Decision-making analysis for seismic retrofit based on risk management

This paper presents a methodology to make informed decisions for seismic retrofitting considering risk management and expected economic benefit based on seismic loss estimation. Three performance measures: Repair cost, Casualties, Downtime is considered for loss estimation. Time-based performance assessment is used with utilizing Performance Assessment Calculation Tool (PACT). By using probabilistic framework, Annual Loss (AL) has been estimated. AL within a reasonable relationship is combined with retrofit cost and discount rate to obtain the amount of net losses and minimum time required for the economic feasibility of each retrofit alternative. The prescribed methodology is used for assessing the steel resisting frame that has been retrofitted with three different methods. According to this study, various retrofit strategies will have reasonable comparability and loss estimation eases decision process for stakeholders.