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Reliability Engineering and Risk Analysis: A Practical Guide (ISBN 9781498745871) is a textbook on techniques for analysis of reliability and risk, written by Mohammad Modarres, Mark Kaminskiy, and Vasiliy Krivtsov. [1] [2]
In engineering, reliability, availability, maintainability and safety (RAMS) [1] [2] is used to characterize a product or system: Reliability: Ability to perform a specific function and may be given as design reliability or operational reliability; Availability: Ability to keep a functioning state in the given environment
ISO 31000 is a set of international standards for risk management.It was developed in November 2009 by International Organization for Standardization. [1] The goal of these standards is to provide a consistent vocabulary and methodology for assessing and managing risk, resolving the historic ambiguities and differences in the ways risk are described.
Reliability engineering is a sub-discipline of systems engineering that emphasizes the ability of equipment to function without failure. Reliability is defined as the probability that a product, system, or service will perform its intended function adequately for a specified period of time, OR will operate in a defined environment without failure. [1]
Reliability-centered maintenance (RCM) is a concept of maintenance planning to ensure that systems continue to do what their users require in their present operating context. [1] Successful implementation of RCM will lead to increase in cost effectiveness, reliability, machine uptime, and a greater understanding of the level of risk that the ...
Risk management is predicting and managing risks that could hinder the organization from reliably achieving its objectives under uncertainty. Compliance refers to adhering with the mandated boundaries (laws and regulations) and voluntary boundaries (company's policies, procedures, etc.).
Example of risk assessment: A NASA model showing areas at high risk from impact for the International Space Station. Risk management is the identification, evaluation, and prioritization of risks, [1] followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. [2]
A fault tree diagram. Fault tree analysis (FTA) is a type of failure analysis in which an undesired state of a system is examined. This analysis method is mainly used in safety engineering and reliability engineering to understand how systems can fail, to identify the best ways to reduce risk and to determine (or get a feeling for) event rates of a safety accident or a particular system level ...