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ABOUT THE COURSE: Risk based approach is integral to design, operation, maintenance and regulation of engineering systems. Traditionally risk and reliability aspects were addressed employing qualitative and experience-based approach which tends to be, at times, arbitrary and not based on qualitative notions of safety and reliability. This course on ‘Risk-based Engineering’ extends the science of probabilistic risk assessment and reliability engineering and integrates with physics-of-failure approach, human factor engineering, application of prognostics and health and uncertainty prediction such that a systematic and rational based system can be established that is designed to address real-time engineering and management aspects with sound quantitative and rational basis, while optimizing risk and reliability such that safety as well as business objectives are not compromised. This is an applied subject that has been developed based on the R&D experience of over 10 years that captures the concept, fundamental, techniques and methods. of ‘Risk-based Engineering’. A book Co-authored by Prabhakar V Varde and Michael Pecht has been published through Springer in 2018.INTENDED AUDIENCE: Ph. D. students and researchers in engineering sciencesPREREQUISITES: B.Tech. in Engineering SciencesINDUSTRY SUPPORT: Probabilistic Risk Assessment (PRA) - that is at the core of risk-based engineering) for complex engineering systems like nuclear plants, process and chemical industry, Space and aviation systems forms an integral part of design and operations safety evaluation. Risk-based engineering has been design as an integrated approach to these applications.
