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Analytical Methods for Risk Management

A Systems Engineering Perspective

By Paul R. Garvey

Chapman and Hall/CRC – 2008 – 288 pages

Series: Statistics: A Series of Textbooks and Monographs

Purchasing Options:

  • Add to CartHardback: $109.95
    978-1-58488-637-2
    October 20th 2008

Description

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.

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.

Name: Analytical Methods for Risk Management: A Systems Engineering Perspective (Hardback)Chapman and Hall/CRC 
Description: By Paul R. Garvey. 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...
Categories: Mathematics & Statistics for Engineers, SPC/Reliability/Quality Control, Systems & Control Engineering