Probabilistic Risk Assessment of Engineering Systems

Book excerpt: Probabilistic risk and hazard assessments are applied to a wide range of engineering systems, mainly for regulatory reasons needed for development consent, system certification and occupational health and safety issues. The purpose of this book is to raise awareness of the limitations, uncertainties and other issues inherent in probabilistic risk analysis procedures. Probabilistic Risk Assessment of Engineering Systems describes: the importance of probabilistic risk assessment in decision making, i.e. risk management; types of risk and probabilistic risk analysis procedures; data needed for the conduct of probabilistic risk analysis; and acceptable/tolerable risk and other risk acceptance criteria. In essence, the book provides a multi-disciplinary and integrated explanation of risk assessment procedures that will enable the non-specialist reader to gain valuable insights into the development of risk analysis procedures. Practising engineers and graduate engineering students across a range of disciplines will find this book immensely useful.