Article detail

Stochastic Methods in Risk Analysis

Vladimíra Osadská
Transactions of the VSB - Technical University of Ostrava, Safety Engineering Series
2017, Volume 12, Issue 1, Pages 61-67
Doi: 10.1515/tvsbses-2017-0008
In this paper, we present a review of basic stochastic methods which can be used for extension of state-of-the-art deterministic analytical methods for risk analysis. We show that the standard deterministic analytical methods highly depend on the practical experience and knowledge of the evaluator and therefore, the stochastic methods should be introduced. The new risk analysis methods should consider the uncertainties in input values. We present how large is the impact on the results of the analysis solving practical example of FMECA with Monte Carlo sampling.
Download full version of article