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Risk Analysis

In: Safety and Risk Modeling and Its Applications

Author

Listed:
  • Terje Aven

    (University of Stavanger)

Abstract

The basis of the risk analysis is the systematic use of analytical—largely probability-based—methods which have been constantly improved over the past years. Probabilistic risk assessments for large technological systems, for instance, include tools such as fault and event trees. The processing of data is often guided by inferential statistics and organised in line with decision analytic procedures. These tools have been developed to generate knowledge about cause–effect relationships, express the strength of these relationships and characterise remaining uncertainties. In short, risk analysis specify what is at stake, assess uncertainties and calculate probabilities for (un)wanted consequences, to produce a risk picture.

Suggested Citation

  • Terje Aven, 2011. "Risk Analysis," Springer Series in Reliability Engineering, in: Hoang Pham (ed.), Safety and Risk Modeling and Its Applications, pages 125-149, Springer.
    • Handle: RePEc:spr:ssrchp:978-0-85729-470-8_5
    DOI: 10.1007/978-0-85729-470-8_5
    as

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