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Last updated:

September 27, 2022

Duration:

Unlimited Duration

FREE

This course includes:

Unlimited Duration

Badge on Completion

Certificate of completion

Unlimited Duration

Description

ERBA (ESD.72) emphasizes three methodologies - reliability and probabilistic risk assessment (RPRA), decision analysis (DA), and cost-benefit analysis (CBA).

In this class, the issues of interest are: the risks associated with large engineering projects such as nuclear power reactors, the International Space Station, and critical infrastructures; the development of new products; the design of processes and operations with environmental externalities; and infrastructure renewal projects.

Course Curriculum

    • Introduction Unlimited
    • RPRA 1: The logic of certainty Unlimited
    • RPRA 2: Elements of probability theory Unlimited
    • RPRA 3: Probability distributions Unlimited
    • RPRA 4: Availability Unlimited
    • RPRA 5: Data and epistemic uncertainties; statistics Unlimited
    • RPRA 6: Probabilistic risk assessment Unlimited
    • RPRA 7: Risk management Unlimited
    • DA 1: The multistage decision model Unlimited
    • DA 2: The value of perfect information Unlimited
    • DA 3: The axioms of rational behavior Unlimited
    • DA 4: Introduction to utility Unlimited
    • DA 5: Risk aversion Unlimited
    • DA 6: Multiattribute utility theory Unlimited
    • DA 7: Decision analysis and risk management Unlimited
    • CBA 1: Background and fundamental premises Unlimited
    • CBA 2: The time value of money Unlimited
    • CBA 3: Bases for comparison of alternatives Unlimited
    • CBA 4: Including uncertainty Unlimited
    • CBA 5: Evaluating public activities Unlimited

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Massachusetts Institute of Technology
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