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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.


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.


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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
Submit Your Assignment 00:00:00
Certification 00:00:00

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