Risk Analysis in Engineering and Economics

Other | June 1, 2003

byAyyub, Bilal M., Bilal M. AyyubEditorBilal M. Ayyub

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More than any other book available, Risk Analysis in Engineering and Economics introduces 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 experience in uncertainty and risk modeling and analysis, the author leads readers from the fundamental concepts through the theory, applications, and data requirements, sources, and collection. He emphasizes the practical use of the methods presented and carefully examines the limitations, advantages, and disadvantages of each. Case studies that incorporate the techniques discussed offer a practical perspective that helps readers clearly identify and solve problems encountered in practice.

If you deal with decision-making under conditions of uncertainty, this book is required reading. The presentation includes more than 300 tables and figures, more than 100 examples, many case studies, and a wealth of end-of-chapter problems. Unlike the classical books on reliability and risk assessment, this book helps you relate underlying concepts to everyday applications and better prepares you to understand and use the methods of risk analysis.

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From the Publisher

More than any other book available, Risk Analysis in Engineering and Economics introduces 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 experience in uncertainty and risk ...

Format:OtherDimensions:600 pages, 1 × 1 × 1 inPublished:June 1, 2003Publisher:Chapman and Hall/CRCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0203497694

ISBN - 13:9780203497692

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Extra Content

Table of Contents

INTRODUCTION
Societal Needs
Risk Analysis Methods
System Framework
Knowledge and Ignorance
Exercise Problems
RISK ANALYSIS METHODS
Introduction
Risk Terminology
Risk Assessment
Risk Management and Control
Risk Communication
Exercise Problems
SYSTEM DEFINITION AND STRUCTURE
Introduction
System Definition Models
Hierarchical Definitions of Systems
System Complexity
Exercise Problems
RELIABILITY ASSESSMENT
Introduction
Analytical Performance-Based Reliability Assessment
Empirical Reliability Analysis Using Life Data
Bayesian Methods
Reliability Analysis of Systems
Exercise Problems
FAILURE CONSEQUENCES AND SEVERITIES
Introduction
Analytical Consequence and Severity Assessment
Real Property Damage
Loss of Human Life
Injuries
Indirect Losses
Public Health and Ecological Damages
Exercise Problems
ENGINEERING ECONOMICS AND FINANCE
Introduction
Fundamental Economic Concepts
Cash Flow Diagrams
Interest Formulae
Economic Equivalence Involving Interest
Economic Equivalence Involving Inflation
Economic Analysis of Alternatives
Exercise Problems
RISK CONTROL METHODS
Introduction
Philosophies of Risk Control
Risk Aversion in Investment Decisions
Risk Homeostasis
Insurance for Loss Control and Risk Transfer
Benefit-Cost Analysis
Risk-based Maintenance Management
Exercise Problems
DATA FOR RISK STUDIES
Introduction
Data Sources
Databases
Elicitation of Expert Opinions
Model Modification Based on Available Data
Failure Data Sources
Exercise Problems
Appendix A. Fundamentals of Probability and Statistics
Appendix B. Failure Data
References and Bibliography
Subject Index