Safe operation of a catalytic reactor remains a sensitive issue when highly exothermic reactions are conducted and hazardous side reactions may occur. Derivation of the optimal operating conditions must include economic but also safety criteria, technological constraints, beside controllability and stability aspects. The present work introduces a criterion based on a joint failure probability index related to uncertainty in the runaway boundaries and the random disturbances of the operating parameters. The use of such a safety criterion is even more important when setting the optimal operating policy of the reactor in the vicinity of the runaway boundaries that often correspond to a high productivity. The paper indicates how an economically efficient but more prudent operating policy can be selected, by simultaneously considering the economic and safety objectives. An example is provided for the case of an industrial fixed-bed tubular reactor, of high thermal sensitivity, used for the catalytic oxidation of butane to maleic anhydride in vapour phase. The multi-objective optimization can lead to a prudent trade-off operating solution (corresponding to a failure probability of maximum 3-4%) that limits the reactor productivity. Being based on a local and global sensitivity analysis of the reactor, the proposed rule is generally applicable by minimizing the probability with which control variables violate their safety limits. (C) 2012 Elsevier Ltd. All rights reserved.