This book has been written with the intention to fill two big gaps in the reliability and risk literature: the risk-based reliability analysis as a powerful alternative to the traditional reliability analysis and the generic principles for reducing technical risk. An important theme in the book is the generic principles and techniques for reducing technical risk. These have been classified into three major categories: preventive (reducing the likelihood of failure), protective (reducing the consequences from failure) and dual (reducing both, the likelihood and the consequences from failure). Many of these principles (for example: avoiding clustering of events, deliberately introducing weak links, reducing sensitivity, introducing changes with opposite sign, etc.) are discussed in the reliability literature for the first time. Significant space has been allocated to component reliability. In the last chapter of the book, several applications are discussed of a powerful equation which constitutes the core of a new theory of locally initiated component failure by flaws whose number is a random variable. Offers a shift in the existing paradigm for conducting reliability analyses Covers risk-based reliability analysis and generic principles for reducing risk Provides a new measure of risk based on the distribution of the potential losses from failure as well as the basic principles for risk-based design Incorporates fast algorithms for system reliability analysis and discrete-event simulators Includes the probability of failure of a structure with complex shape expressed with a simple equation

Based on the author's 20 years of teaching, Risk Analysis in Engineering: Techniques, Tools, and Trends presents an engineering approach to probabilistic risk analysis (PRA). It emphasizes methods for comprehensive PRA studies, including techniques for risk management. The author assumes little or no prior knowledge of risk analysis on the p

Reliability is one of the most important attributes for the products and processes of any company or organization. This important work provides a powerful framework of domain-independent reliability improvement and risk reducing methods which can greatly lower risk in any area of human activity. It reviews existing methods for risk reduction that can be classified as domain-independent and introduces the following new domain-independent reliability improvement and risk reduction methods: Separation Stochastic separation Introducing deliberate weaknesses Segmentation Self-reinforcement Inversion Reducing the rate of accumulation of damage Permutation Substitution Limiting the space and time exposure Comparative reliability models The domain-independent methods for reliability improvement and risk reduction do not depend on the availability of past failure data, domain-specific expertise or knowledge of the failure mechanisms underlying the failure modes. Through numerous examples and case studies, this invaluable guide shows that many of the new domain-independent methods improve reliability at no extra cost or at a low cost. Using the proven methods in this book, any company and organisation can greatly enhance the reliability of its products and operations.

Principles of Risk-Based Decision Making provides managers with the foundation for creating a proactive organizational culture that systematically incorporates risk into key decision-making processes. Based on methodology adopted by a number of organizations including the federal government, this book examines risk-based decision making as a process for organizing information about the possibility for unwanted outcomes in a simple, practical way that helps decision makers make timely, informed management choices that minimize harmful effects on safety and health, the environment, property loss, or mission success.

This SpringerBrief introduces methodologies and tools for quantitative understanding and assessment of supply chain risk to critical infrastructure systems. It unites system reliability analysis, optimization theory, detection theory and mechanism design theory to study vendor involvement in overall system security. It also provides decision support for risk mitigation. This SpringerBrief introduces I-SCRAM, a software tool to assess the risk. It enables critical infrastructure operators to make risk-informed decisions relating to the supply chain, while deploying their IT/OT and IoT systems. The authors present examples and case studies on supply chain risk assessment/mitigation of modern connected infrastructure systems such as autonomous vehicles, industrial control systems, autonomous truck platooning and more. It also discusses how vendors of different system components are involved in the overall security posture of the system and how the risk can be mitigated through vendor selection and diversification. The specific topics in this book include: Risk modeling and analysis of IoT supply chains Methodologies for risk mitigation, policy management, accountability, and cyber insurance Tutorial on a software tool for supply chain risk management of IoT These topics are supported by up-to-date summaries of the authors’ recent research findings. The authors introduce a taxonomy of supply chain security and discusses the future challenges and directions in securing the supply chains of IoT systems. It also focuses on the need for joint policy and technical solutions to counter the emerging risks, where technology should inform policy and policy should regulate technology development. This SpringerBrief has self-contained chapters, facilitating the readers to peruse individual topics of interest. It provides a broad understanding of the emerging field of cyber supply chain security in the context of IoT systems to academics, industry professionals and government officials.

In today's uncertain times, risk has become the biggest part of management. Risk management is central to the science of prediction and decision-making; holistic and scientific risk management creates resilient organizations, which survive and thrive by being adaptable. This book is the perfect guide for anyone interested in understanding and excelling at risk management. It begins with a focus on the foundational elements of risk management, with a thorough explanation of the basic concepts, many illustrated by real-life examples. Next, the book focuses on equipping the reader with a working knowledge of the subject from an organizational process and systems perspective. Every concept in almost every chapter is calibrated to not only ISO 9001 and ISO 31000, but several other international standards. In addition, this book presents several tools and methods for discussion. Ranging from industry standard to cutting edge, each receives a thorough analysis and description of its role in the risk management process. Finally, you'll find a detailed and practical discussion of contemporary topics in risk management, such as supply chain risk management, risk-based auditing, risk in 4.0 (digital transformation), benefit-risk analyses, risk-based design thinking, and pandemic/epidemic risk management. Jayet Moon is a Senior ASQ member and holds ASQ CQE, CSQP, and CQIA certifications. He is also a chartered quality professional in the U.K. (CQP-MCQI). He earned a master's degree in biomedical engineering from Drexel University in Philadelphia and is a Project Management Institute (PMI) Certified Risk Management Professional (PMI-RMP). He is a doctoral candidate in Systems and Engineering Management at Texas Tech University

Earthquakes represent a major risk to buildings, bridges and other civil infrastructure systems, causing catastrophic loss to modern society. Handbook of seismic risk analysis and management of civil infrastructure systems reviews the state of the art in the seismic risk analysis and management of civil infrastructure systems. Part one reviews research in the quantification of uncertainties in ground motion and seismic hazard assessment. Part twi discusses methodologies in seismic risk analysis and management, whilst parts three and four cover the application of seismic risk assessment to buildings, bridges, pipelines and other civil infrastructure systems. Part five also discusses methods for quantifying dependency between different infrastructure systems. The final part of the book considers ways of assessing financial and other losses from earthquake damage as well as setting insurance rates. Handbook of seismic risk analysis and management of civil infrastructure systems is an invaluable guide for professionals requiring understanding of the impact of earthquakes on buildings and lifelines, and the seismic risk assessment and management of buildings, bridges and transportation. It also provides a comprehensive overview of seismic risk analysis for researchers and engineers within these fields. This important handbook reviews the wealth of recent research in the area of seismic hazard analysis in modern earthquake design code provisions and practices Examines research into the analysis of ground motion and seismic hazard assessment, seismic risk hazard methodologies Addresses the assessment of seismic risks to buildings, bridges, water supply systems and other aspects of civil infrastructure