Analytical Methods for Risk Management: A Systems Engineering Perspective

Paul R. Garvey

October 20, 2008 by Chapman and Hall/CRC
Reference - 282 Pages - 110 B/W Illustrations
ISBN 9781584886372 - CAT# C6374
Series: Statistics: A Series of Textbooks and Monographs


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  • Presents the processes and analytical practices for identifying, measuring, and managing risk as it arises in the engineering of systems
  • Describes a supplier–provider risk analytic framework for enterprise systems engineered by capabilities-based development approaches
  • Explores research areas for the development of advanced risk analysis and management protocols
  • Discusses success factors for managing risk in the engineering of systems
  • Includes end-of-chapter exercises and numerous examples to illustrate how technical principles apply to actual engineering systems projects
  • Summary

    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.