Ayyub B.M. Risk Analysis in Engineering and Economics

N.-Y.: Chapman and Hall/CRC, 2014. - 616 p.Risk Analysis in Engineering and Economics is required reading for decision making under conditions of uncertainty. The author describes 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 covers everything from basic theory and key computational algorithms to data needs, sources, and collection. He emphasizes practical use of the methods presented and carefully examines the limitations, advantages, and disadvantages of each to help readers translate the discussed techniques into real-world solutions.
This Second Edition:
Introduces the topic of risk finance Incorporates homeland security applications throughout Offers additional material on predictive risk management Includes a wealth of new and updated end-of-chapter problems Delivers a complementary mix of theoretical background and risk methods Brings together engineering and economics on balanced terms to enable appropriate decision making Presents performance segregation and aggregation within a risk framework Contains contemporary case studies, such as protecting hurricane-prone regions and critical infrastructure Provides 320+ tables and figures, over 110 diverse examples, numerous end-of-book references, and a bibliography
Unlike the classical books on reliability and risk management, Risk Analysis in Engineering and Economics, Second Edition relates underlying concepts to everyday applications, ensuring solid understanding and use of the methods of risk analysis.Societal Needs
Risk Analysis
System Framework
Knowledge and Ignorance
Exercise Problems
Risk Analysis MethodsRisk Terminology
Risk Assessment
Risk Management and Control
Risk Communication
Exercise Problems
System Definition and StructureSystem Definition Models
Hierarchical Definitions of Systems
System Complexity
Exercise Problems
Reliability AssessmentAnalytical Performance-Based Reliability Assessment
Empirical Reliability Analysis Using Life Data
Bayesian Methods
Reliability Analysis of Systems
Exercise Problems
Failure Consequences and SeverityAnalytical Consequence and Severity Assessment
Real Property Damage
Loss of Human Life
Injuries
Indirect Losses
Public Health and Ecological Damages
Exercise Problems
Engineering Economics and FinanceFundamental Economic Concepts
Cash-Flow Diagrams
Interest Formulae
Economic Equivalence Involving Interest
Economic Equivalence and Inflation
Economic Analysis of Alternatives
Exercise Problems
Risk Control MethodsPhilosophies 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 StudiesData Sources
Databases
Expert-Opinion Elicitation
Model Modification Based on Available Data
Failure Data Sources
Exercise Problems
Fundamentals of Probability and Statistics
Sample Spaces, Sets, and Events
Mathematics of Probability
Random Variables and Their Probability Distributions
Failure Data