Analyzing Risk

Engineers designing major projects must often grapple with large areas of uncertainty. One possible source of help is risk analysis, which is being applied in a growing number of important projects, such as nuclear power plants and waste repositories. Probabilistic risk assessment of nuclear power p...

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Bibliographic Details
Published in:Civil engineering (New York, N.Y. 1983) N.Y. 1983), 1991-12, Vol.61 (12), p.66-68
Main Authors: McGuire, Robin K, Toro, Gabriel R, Sewell, Robert T
Format: Magazinearticle
Language:English
Subjects:
Algorithms
Civil engineering
Nuclear power plants
Offshore oil wells
Projects
Risk
Risk assessment
Techniques
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Summary:Engineers designing major projects must often grapple with large areas of uncertainty. One possible source of help is risk analysis, which is being applied in a growing number of important projects, such as nuclear power plants and waste repositories. Probabilistic risk assessment of nuclear power plants is a multidisciplinary application of risk analysis that has been used extensively in the US. Offshore platforms are commonly evaluated using a probabilistic reliability analysis. This method considers environmental loads on the structure, inaccuracy in modeling loads, and structural capacity as random quantities and evaluates the likelihood of failure or other undesirable outcomes, such as excessive deformation. Developments in computational algorithms allow probabilistic reliability analyses that use realistic representations of the random quantities and mathematical models to be done at reasonable costs.
ISSN:0885-7024
2381-0688