Engineering Risk-Benefit Analysis deals with Reliability and Probabilistic Risk Assessment; Decision Analysis and Cost-Benefit Analysis. This [course_title] is designed for you to understand problems related to nuclear power reactors, the International Space Station and Critical Infrastructures etc. From this [course_title] you will also have a review of elementary probability theory and statistics.
Assessment
This course does not involve any written exams. Students need to answer 5 assignment questions to complete the course, the answers will be in the form of written work in pdf or word. Students can write the answers in their own time. Each answer needs to be 200 words (1 Page). Once the answers are submitted, the tutor will check and assess the work.
Certification
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Course Credit:MIT
Course Curriculum
| Reliability and probabilistic risk assessment | |||
| Introduction suhel | 00:15:00 | ||
| The logic of certainty | 00:15:00 | ||
| Elements of probability theory | 00:15:00 | ||
| Probability distributions | 00:15:00 | ||
| Availability | 00:15:00 | ||
| Data and epistemic uncertainties; statistics | 00:00:00 | ||
| Probabilistic risk assessment | 00:15:00 | ||
| Risk management | 00:15:00 | ||
| Decision analysis (DA) | |||
| The multistage decision model | 00:15:00 | ||
| The value of perfect information | 00:15:00 | ||
| The axioms of rational behavior | 00:15:00 | ||
| Introduction to utility | 00:15:00 | ||
| Risk aversion | 00:15:00 | ||
| Multiattribute utility theory | 00:15:00 | ||
| Decision analysis and risk management | 00:25:00 | ||
| Cost-benefit analysis (CBA) | |||
| Background and fundamental premises | 00:15:00 | ||
| The time value of money | 00:15:00 | ||
| Bases for comparison of alternatives | 00:15:00 | ||
| Including uncertainty | 00:15:00 | ||
| Evaluating public activities | 00:15:00 | ||
| Assessment | |||
| Submit Your Assignment | 00:00:00 | ||
| Certification | 00:00:00 | ||
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