This document introduces the topics that will be covered in an engineering risk benefit analysis course, including reliability and probabilistic risk assessment, decision analysis, and cost-benefit analysis. The course aims to help students make informed decisions for engineering projects that involve technological or financial risk by quantifying uncertainty. Key concepts like standard terminology, fundamental issues, and strengths and weaknesses will be emphasized at a broad survey level.
This document introduces the topics that will be covered in an engineering risk benefit analysis course, including reliability and probabilistic risk assessment, decision analysis, and cost-benefit analysis. The course aims to help students make informed decisions for engineering projects that involve technological or financial risk by quantifying uncertainty. Key concepts like standard terminology, fundamental issues, and strengths and weaknesses will be emphasized at a broad survey level.
This document introduces the topics that will be covered in an engineering risk benefit analysis course, including reliability and probabilistic risk assessment, decision analysis, and cost-benefit analysis. The course aims to help students make informed decisions for engineering projects that involve technological or financial risk by quantifying uncertainty. Key concepts like standard terminology, fundamental issues, and strengths and weaknesses will be emphasized at a broad survey level.
This document introduces the topics that will be covered in an engineering risk benefit analysis course, including reliability and probabilistic risk assessment, decision analysis, and cost-benefit analysis. The course aims to help students make informed decisions for engineering projects that involve technological or financial risk by quantifying uncertainty. Key concepts like standard terminology, fundamental issues, and strengths and weaknesses will be emphasized at a broad survey level.
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Engineering Risk Benefit Analysis
1.155, 2.943, 3.577, 6.938, 10.816, 13.621, 16.862, 22.82 ESD.72J, ESD.721 Introduction George E. Apostolakis Massachusetts Institute of Technology Spring 2007
Introduction
Risk-Benefit Tradeoffs
Introduction
Dealing with Uncertainty
Risk management of large technological systems Choosing among alternative decision options Cost-benefit tradeoffs
Introduction
Sometimes the historical record is surprising Typical Metro Railway Accidents
Staircases Slips/trips Falls between train and platform Train Accidents Train Doors
Detrain
Falls inside train
Escalators!
From: Vincent Ho, The Applications of Quantitative Risk Assessment in the Railway Industry, INER presentation, December 2004 Introduction 4
ERBA Make informed decisions concerning engineering projects that include important elements of technological or financial risk. The quantification of uncertainty is a key element. Three main topics to be covered: Reliability and Probabilistic Risk Assessment (RPRA) (includes a review of elementary probability theory) Decision Analysis (DA) Cost-Benefit Analysis (CBA) (except in ESD.721) Introduction 5
Level of Coverage
Broad Survey Emphasis on: standard terminology fundamental issues strengths and weaknesses
