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SoS Risk Analysis

SoS Risk Analysis

Risk management is recognized by industry as the best way to consistently quantify risks, as part of a repeatable and quantifiable risk management process. However, risk management involves human subjective: numerical judgment, calibration, rounding, censoring, and data updating. Thus, risk management is often approached with under confidence and distrusted by decision makers.

Risk management is recognized by industry as the best way to consistently quantify risks, as part of a repeatable and quantifiable risk management process. However, risk management involves human subjective: numerical judgment, calibration, rounding, censoring, and data updating. Thus, risk management is often approached with under confidence and distrusted by decision makers.

  • Risk Analysis and Mitigation Tendencies as Interpreted by Cognitive Science, Eric D. Smith, Risk Analysis and Mitigation Tendencies as Interpreted by Cognitive Science, Test & Evaluation of Systems of Systems Conference, International Test & Evaluation Association (ITEA), El Paso, TX, 2012.

  • Risk Analysis, Eric D. Smith and A. Terry Bahill, Proceedings of the International Council on Systems and Industrial, Manufacturing & Systems Engineering (INCOSE) 17th International Symposium, 2007, San Diego, CA.

  • Cognitive Biases in the Risk Matrix, Eric D. Smith, William Siefert and David Drain, Systems Engineering, the journal of INCOSE, 12(4), 2009 (scheduled).

  • Coit, D., Espiritu, J., Ramirez-Marquez, J. & Prakash, U. (2004) Impact of Parameter Uncertainty on Asset Criticality and System Reliability. Funded project by industry.

  • Espiritu, J., Coit, D. & Prakash, U. (2007). Component Criticality Importance Measures for the Power Industry. Electric Power systems Research, 77(5-6). Electric Power Systems Research, 77(5-6).

  • Taboada, H., Espiritu, J. & Coit, D. (2008). Design allocation of multi-state series-parallel systems for power systems planning: A multiple objective evolutionary approach. Journal of Risk and Reliability (in print).

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