Detailed review of: Risk Analysis: Assessing Uncertainties Beyond Expected Values and Probabilities | Publishers | : | John Wiley & Sons,Inc., New Jersey | | Author | : | Terje Aven | | Title | : | Risk Analysis: Assessing Uncertainties Beyond Expected Values and Probabilities | | Year of Publication | : | 2008 | | Pages | : | 194 | | ISBN | : | 9780470517369 | | Reviewer | : | Krishna B. Misra | | Status | : | Review published in IJPE, Vol. 5, No. 1, January 2009, p. 99. |
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The book consists of 12 chapters as follows:
Part I | Theory and Methods | 1 Page | Chapter 1 | What is risk analysis | 16 Pages | Chapter 2 | What is risk | 12 Pages | Chapter 3 | The risk analysis process: planning | 10 Pages | Chapter 4 | The risk analysis process: risk assessment | 12 Pages | Chapter 5 | The risk analysis process: risk treatment | 6 Pages | Chapter 6 | The risk analysis methods | 28 Pages | Part II | Examples of Applications | 1 Page | Chapter 7 | Safety measures for a road tunnel | 12 Pages | Chapter 8 | Risk analysis process for an offshore installation | 8 Pages | Chapter 9 | Production assurance | 6 Pages | Chapter 10 | The risk analysis process for a cash depot | 12 Pages | Chapter 11 | The risk analysis process for municipalities | 8 Pages | Chapter 12 | The risk analysis process for the entire enterprise | 12 Pages | Chapter 13 | Discussion | 14 Pages | Appendices | A: Probability calculus and statistics B: Introduction to reliability analysis C: Approach for selecting risk analysis methods D: Terminology | 6 Pages 4 Pages 6 Pages 4 pages | Bibliography | | 5 Pages | Index | | 2 Pages |
This book comes from an author who has a rich experience of teaching and offering consultancy in the area of risk analysis and management and has written some books in this area. His earlier book published in 2003 with Wiley was on Foundations of Risk Analysis – A Knowledge and Decision Oriented Perspective. . He also coauthored a book with Vinnem Jan Erik, entitled, Risk Management, with Applications from the Offshore Oil and Gas Industry, and was published by Springer, U.K. in 2007. The review of this book was published in IJPE on page 299 in Vol. 4, no. 3 in July 2008. The book starts with the definition of risk and risk analysis with the help of some examples. The risk analysis (qualitative and quantitative) constitutes identifying hazards, threats and opportunities, their causes and consequences leading to assessment of risk. The process involves planning, assessment and its treatment. Methods used in risk analysis , such as FMEA, HAZOP, SWIFT, FTA, ET, Bayesian nets and Monte Carlo simulation are also discussed. Thus in part 1, tools required for risk analysis are discussed. In Part 2 of the book, the author discusses applications of the tools in carrying out the analysis in case of road tunnel, off-shore installations product assurance cash depot municipalities (for emergency-preparedness point of view) and finally for an entire enterprise covering such factors as price, operational, health environment and safety and reputation. Finally, in a chapter on discussion, the author explains how risk analysis can be used as a decision support tool and evaluates its strengths and weaknesses. In the opinion of the reviewer, the author has been successful in presenting the subject of risk analysis effectively. The reviewer would like to recommend this book to all those, who would like to know about risk analysis and how it can be performed in practical situations. Krishna B. Misra
Review published in the International Journal of Performability Engineering, Vol. 5, No. 1, January 2009 , p.99.
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