Analytical Methods for Risk Management
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Analytical Methods for Risk Management : A Systems Engineering Perspective

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A Text on the Foundation Processes, Analytical Principles, and Implementation Practices of Engineering Risk Management Drawing from the author's many years of hands-on experience in the field, Analytical Methods for Risk Management: A Systems Engineering Perspectivepresents the foundation processes and analytical practices for identifying, analyzing, measuring, and managing risk in traditional systems, systems-of-systems, and enterprise systems. Balances Risk and Decision Theory with Case Studies and Exercises After an introduction to engineering risk management, the book covers the fundamental axioms and properties of probability as well as key aspects of decision analysis, such as preference theory and risk/utility functions. It concludes with a series of essays on major analytical topics, including how to identify, write, and represent risks; prioritize risks in terms of their potential impacts on a systems project; and monitor progress when mitigating a risk's potential adverse effects. The author also examines technical performance measures and how they can combine into an index to track an engineering system's overall performance risk. In addition, he discusses risk management in the context of engineering complex, large-scale enterprise systems. Applies Various Methods to Risk Engineering and Analysis Problems This practical guide enables an understanding of which processes and analytical techniques are valid and how they are best applied to specific systems engineering environments. After reading this book, you will be on your way to managing risk on both traditional and advanced engineering systems.show more

Product details

  • Hardback | 282 pages
  • 160.02 x 236.22 x 22.86mm | 498.95g
  • Taylor & Francis Inc
  • Chapman & Hall/CRC
  • Boca Raton, FL, United States
  • English
  • 110 black & white illustrations
  • 1584886374
  • 9781584886372
  • 2,410,800

Table of contents

Engineering Risk Management Introduction Engineering Risk Management Objectives Overview of Process and Practice New Perspectives on Engineering Systems Elements of Probability Theory Introduction Interpretations and Axioms Conditional Probability and Bayes' Rule Applications to Engineering Risk Management Elements of Decision Analysis Introduction The Value Function Risk and Utility Functions Applications to Engineering Risk Management Analytical Topics in Engineering Risk Management Introduction Risk Identification and Approaches Risk Analysis and Risk Prioritization Risk Management and Progress Monitoring Measuring Technical Performance Risk Risk Management for Engineering Enterprise Systems Appendix A: A Geometric Approach for Ranking Risks Appendix B: Success Factors in Engineering Risk Management Index References appear at the end of each chapter.show more

About Paul R. Garvey

The MITRE Corporation, Bedford, Massachusetts, USAshow more

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