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Risk-based Reliability Analysis and Generic Principles for Risk Reduction by Michael T. Todinov is a nonfiction available to read on EtoBox.

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For a long time, conventional reliability analyses have been oriented towards selecting the more reliable system and preoccupied with maximising the reliability of engineering systems. On the basis of counterexamples however, we demonstrate that selecting the more reliable system does not necessarily mean selecting the system with the smaller losses from failures! As a result, reliability analyses should necessarily be risk-based, linked with the losses from failures. Accordingly, a theoretical framework and models are presented which form the foundations of the reliability analysis and reliability allocation linked with the losses from failures. An underlying theme in the book is the basic principle for a risk-based design: the larger the cost of failure associated with a component, the larger its minimum necessary reliability level. Even identical components should be designed to different reliability levels if their failures are associated with different losses. According to a classical definition, the risk of failure is a product of the probability of failure and the cost given failure. This risk measure however cannot describe the risk of losses exceeding a maximum acceptab

Who reads Risk-based Reliability Analysis and Generic Principles for Risk Reduction?

Author

Michael T. Todinov

Publisher

Elsevier Science

Published

2006

Language

EN

ISBN

9780080447285

Category

nonfiction

Subjects

Engineering, Mathematics, Technology