@article {bnh-3798, title = {Cost-effective mitigation strategy for building related earthquake risk: final report on economic loss modelling}, number = {246}, year = {2017}, month = {07/2017}, institution = {Bushfire and Natural Hazards CRC}, address = {Melbourne}, abstract = {

This report forms part of the output from the Cost-Effective Mitigation Strategy Development for Building Related Earthquake Risk project within the Bushfire and Natural Hazards Cooperative Research Centre.

Earthquakes have the potential to cause widespread damage to Australian communities and the economic activity that occurs within them. Recent earthquake events have illustrated this, including the Newcastle Earthquake (1989) and the Kalgoorlie Earthquake (2010). This potential is largely due to the fact that much of the Australian building stock has not been designed nor constructed with adequate consideration of earthquake hazard.

Mitigation intervention is needed to reduce this risk but an evidence base is lacking to inform investment. In particular, there is a need for economic measures of the benefits of retrofit as an offset to the sometimes large costs of upgrading structures for earthquake.

This need exists in many other countries. As part of this research a literature survey of research published internationally is underway to inform the best approach for assessing the costs of business interruption and the losses associated with injury and death. The findings of this work to date are described and are informing the research program.

This report also describes the frameworks developed for a range of Australian decision makers. Decision makers include building owners, owners of both business premises and the business within, local government, state government and national government. The scale of decision making metrics range from individual building level up to business precinct level exposures and the interdependence of building performance within them. The information and models required as inputs into the framework have been identified along with how these will be met, either with outputs from this CRC project, or from other sources.

The research on the economic loss modelling has produced a functional model. Future work will add refinements to the model such as casualty cost modules adapted from published material. In the succeeding year business interruption loss models will be developed and framework/methodology developed for assessing precinct level economic activity disruption.

}, issn = {246}, author = {Itismita Mohanty and Mark Edwards and Hyeuk Ryu and Martin Wehner} }