LEADER 05316nam 2200613 a 450 001 9910143510903321 005 20230617011826.0 010 $a1-280-27392-5 010 $a9786610273928 010 $a0-470-32240-3 010 $a0-470-87123-7 010 $a0-470-87124-5 035 $a(CKB)111087027141074 035 $a(EBL)219700 035 $a(OCoLC)53914732 035 $a(SSID)ssj0000157581 035 $a(PQKBManifestationID)11182710 035 $a(PQKBTitleCode)TC0000157581 035 $a(PQKBWorkID)10139172 035 $a(PQKB)10915024 035 $a(MiAaPQ)EBC219700 035 $a(EXLCZ)99111087027141074 100 $a20040331d2003 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFoundations of risk analysis$b[electronic resource] $ea knowledge and decision-oriented perspective /$fTerje Aven 210 $aChichester ;$aHoboken, NJ $cJohn Wiley & Sons$dc2003 215 $a1 online resource (208 p.) 225 1 $aWiley Series in Probability and Statistics 300 $aDescription based upon print version of record. 311 $a0-471-49548-4 320 $aIncludes bibliographical references (p. [179]-185) and index. 327 $aFoundations of Risk Analysis; Contents; Preface; 1 Introduction; 1.1 The Importance of Risk and Uncertainty Assessments; 1.2 The Need to Develop a Proper Risk Analysis Framework; Bibliographic Notes; 2 Common Thinking about Risk and Risk Analysis; 2.1 Accident Risk; 2.1.1 Accident Statistics; 2.1.2 Risk Analysis; 2.1.3 Reliability Analysis; 2.2 Economic Risk; 2.2.1 General Definitions of Economic Risk in Business and Project Management; 2.2.2 A Cost Risk Analysis; 2.2.3 Finance and Portfolio Theory; 2.2.4 Treatment of Risk in Project Discounted Cash Flow Analysis 327 $a2.3 Discussion and Conclusions2.3.1 The Classical Approach; 2.3.2 The Bayesian Paradigm; 2.3.3 Economic Risk and Rational Decision-Making; 2.3.4 Other Perspectives and Applications; 2.3.5 Conclusions; Bibliographic Notes; 3 How to Think about Risk and Risk Analysis; 3.1 Basic Ideas and Principles; 3.1.1 Background Information; 3.1.2 Models and Simplifications in Probability Considerations; 3.1.3 Observable Quantities; 3.2 Economic Risk; 3.2.1 A Simple Cost Risk Example; 3.2.2 Production Risk; 3.2.3 Business and Project Management; 3.2.4 Investing Money in a Stock Market 327 $a3.2.5 Discounted Cash Flow Analysis3.3 Accident Risk; Bibliographic Notes; 4 How to Assess Uncertainties and Specify Probabilities; 4.1 What Is a Good Probability Assignment?; 4.1.1 Criteria for Evaluating Probabilities; 4.1.2 Heuristics and Biases; 4.1.3 Evaluation of the Assessors; 4.1.4 Standardization and Consensus; 4.2 Modelling; 4.2.1 Examples of Models; 4.2.2 Discussion; 4.3 Assessing Uncertainty of Y; 4.3.1 Assignments Based on Classical Statistical Methods; 4.3.2 Analyst Judgements Using All Sources of Information; 4.3.3 Formal Expert Elicitation; 4.3.4 Bayesian Analysis 327 $a4.4 Uncertainty Assessments of a Vector X4.4.1 Cost Risk; 4.4.2 Production Risk; 4.4.3 Reliability Analysis; 4.5 Discussion and Conclusions; Bibliographic Notes; 5 How to Use Risk Analysis to Support Decision-Making; 5.1 What Is a Good Decision?; 5.1.1 Features of a Decision-Making Model; 5.1.2 Decision-Support Tools; 5.1.3 Discussion; 5.2 Some Examples; 5.2.1 Accident Risk; 5.2.2 Scrap in Place or Complete Removal of Plant; 5.2.3 Production System; 5.2.4 Reliability Target; 5.2.5 Health Risk; 5.2.6 Warranties; 5.2.7 Offshore Development Project; 5.2.8 Risk Assessment: National Sector 327 $a5.2.9 Multi-Attribute Utility Example5.3 Risk Problem Classification Schemes; 5.3.1 A Scheme Based on Potential Consequences and Uncertainties; 5.3.2 A Scheme Based on Closeness to Hazard and Level of Authority; Bibliographic Notes; 6 Summary and Conclusions; Appendix A Basic Theory of Probability and Statistics; A.1 Probability Theory; A.1.1 Types of Probabilities; A.1.2 Probability Rules; A.1.3 Random Quantities (Random Variables); A.1.4 Some Common Discrete Probability Distributions (Models); A.1.5 Some Common Continuous Distributions (Models) 327 $aA.1.6 Some Remarks on Probability Models and Their Parameters 330 $aEveryday we face decisions that carry an element of risk and uncertainty. The ability to analyse, communicate and control the level of risk entailed by these decisions remains one of the most pressing challenges to the analyst, scientist and manager. This book presents the foundational issues in risk analysis - expressing risk, understanding what risk means, building risk models, addressing uncertainty, and applying probability models to real problems. The principal aim of the book is to give the reader the knowledge and basic thinking they require to approach risk and uncertainty to support d 410 0$aWiley Series in Probability and Statistics 606 $aRisk assessment$xStatistical methods 615 0$aRisk assessment$xStatistical methods. 676 $a519.5 700 $aAven$b T$g(Terje)$0878124 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910143510903321 996 $aFoundations of risk analysis$91977960 997 $aUNINA