Risk Analysis in Engineering and EconomicsRisk Analysis in Engineering and Economics is required reading for decision making under conditions of uncertainty. The author describes the fundamental concepts, techniques, and applications of the subject in a style tailored to meet the needs of students and practitioners of engineering, science, economics, and finance. Drawing on his extensive e |
Contents
| 1 | |
2 Terminology and Fundamental Risk Methods | 47 |
3 System Definition and Structure | 171 |
4 Failure Probability Assessment | 233 |
5 Failure Consequences and Valuations | 337 |
6 Engineering Economics and Finance | 395 |
7 Risk Treatment and Control Methods | 425 |
8 Data for Risk Studies | 465 |
9 RiskBased Maintenance of Marine Vessels A Case Study | 495 |
Fundamentals of Probability and Statistics | 523 |
Failure Data | 575 |
| 589 | |
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Common terms and phrases
alternative annual associated Ayyub Bayesian Bayesian Network cash flow CHRF components computed conditional probabilities consequences construction cost Daily failure rate damage decision defined density function developed diagram economic effects engineering Equation estimate evaluated example expert opinions exponential distribution factors failure modes failure probability Failures per million flooding gamma distribution given hazard functions Hourly failure rate human identified ignorance impact influence diagrams knowledge likelihood lognormal loss maintenance actions methods million hours Failures Modarres normal normal distribution occurrence optimal maintenance outcomes parameters performance function personal flotation device Posterior Probabilities potential probability distribution Problem random variable reliability function requirements risk analysis risk assessment risk management sample scenarios selected shown in Figure simulation Smith standard deviation statistical strategy structure subsystem Survivor Function Table tion top event uncertainty utility variance