Using quantitative analysis to make risk-based decisions

John A. Farquharson, Joel L. McDuffee

Research output: Contribution to journalConference articlepeer-review

2 Scopus citations

Abstract

An overview is given of the technique used by ABS Consulting for performing quantitative risk analyses (QRAs) in phases in order to produce only the information necessary for managers to answer their risk-based questions. Three real-life studies are provided as case studies that demonstrate the use of QRA techniques to make a trade-off decision. A general procedure for performing a risk-based decision input study is described.

Original languageEnglish
Pages (from-to)170-176
Number of pages7
JournalProceedings of the Annual Reliability and Maintainability Symposium
StatePublished - 2003
Externally publishedYes
EventThe International Symposium on Product Quality and Integrity; Transforming Technologies for Reliability and Maintainbility Engineering - Tampa, FL, United States
Duration: Jan 27 2003Jan 30 2003

Keywords

  • Decision making
  • QRA
  • Risk-based

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