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Fundamentals of Risk Analysis

  • Bilal M. AyyubEmail author
Chapter
Part of the Springer Series in Reliability Engineering book series (RELIABILITY)

Abstract

This chapter presents the basic concepts associated with risk analysis of complex systems. The chapter provides definitions and terminology. It discussed quantification of risk in a systems framework. Various methods for risk assessment are discussed, and the risk management and control philosophies are presented. Risk-informed decision making is introduced on the basis of benefit-to-cost analysis. Methods for defining risk acceptance thresholds are provided for various system types from several industries. Also, risk communication methods are briefly described. The concepts presented are suitable for power plant performance improvement and safety. They can be adapted for power plant related applications. Sources are provides at the end of chapter for additional reading and details on risk methods.

Keywords

Risk Communication Fault Tree Fault Tree Analysis Fault Tree Analysis Risk Source 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

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Copyright information

© Springer-Verlag London Limited 2012

Authors and Affiliations

  1. 1.Center for Technology and Systems Management, Department of Civil and Environmental EngineeringUniversity of MarylandCollege ParkUSA

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