How Useful is Quantitative Risk Assessment?
Name
wp-2003-05.pdf
Size
206.69 KB
Format
Adobe PDF
Checksum (MD5)
36c68f72650027300064122e1260f6c1
Author(s)
Apostolakis, George
Date Issued
July 2003
Publisher
Massachusetts Institute of Technology. Engineering Systems Division
Series/Report no.
ESD Working Papers;ESD-WP-2003-05
Abstract
This article discusses the use of Quantitative Risk Assessment (QRA) in decision-making regarding the safety of complex technological systems. The insights gained by QRA are compared with those from traditional safety methods and it is argued that the two approaches complement each other. It is argued that peer review is an essential part of the QRA process. The importance of risk-informed rather than risk-based decision-making is emphasized. Engineering insights derived from QRAs are always used in combination with traditional safety requirements and it is in this context that they should be reviewed and critiqued. Examples from applications in nuclear power, space systems, and an incinerator of chemical agents are given to demonstrate the practical benefits of QRA. Finally, several common criticisms raised against QRA are addressed.
Persistent DSpace Link
