Date of Graduation


Document Type


Degree Name

Master of Science in Industrial Engineering (MSIE)

Degree Level



Industrial Engineering


Gregory Parnell

Committee Member

Richard Ham

Second Committee Member

Edward Pohl

Third Committee Member

Carrie Beam


Airport, Portfolio, Risk, Security, Value


In an increasingly mobile and diverse world, it is difficult to quantify the risk, or danger, associated with traveling. Airports have suffered greatly for being unable to define potential risks and protect against them. Intelligent adversary risk is a complicated high-level issue for many airports. Airports are targeted because of the large amount of people in a confined space and the social, economic, and psychological impact of terrorist attacks on the American people. In the months following September 11th, 2001, the airline industry in the United States lost $1.1 billion in revenue. The American people stayed grounded, for fear of another attack by plane. Recent airport attacks have had a similar effect. The nearly 350 airport attacks from 2000-2015 presents a massive opportunity for improvement. The presence of risk, in the form of terrorist attacks, is an influential deterrent for passengers. To combat the risk of attack, airports must provide a higher level of safety and security to people passing through their terminals. To decrease the risk of an attack, airports must increase the ability to defend itself. In the case of intelligent adversary attacks, a decrease in risk can be thought of as an increase in value. Multi-Objective Decision analysis (MODA), uses a Value-Focused Thinking model to quantify value. When dealing with human lives, models need to strive to add value not just increase cash flow. There are countless projects that could add value, so the selection will be complicated. A portfolio analysis will use a budget given by the decision maker and turn it into a set of the highest value projects for those dollars. The goal of this study is to canvas the type of solutions available, and give an optimal set of solutions to the decision maker.