Techniques of analysis of risk management decisions in engineering and other systems involving preferences and trade-offs (technical, human, environmental aspects). Elements of decision analysis; probabilistic risk analysis in the public or private sector (fault trees, event trees, systems dynamics); Bayesian updating and learning (elementary notions of quantum computing for complex cases); value of tests, economic analysis of failure consequences (human safety and long-term economic discounting); case studies such as space systems, nuclear power plants, medical systems and cyber security. Pre-requisites: probability, stochastic processes, and convex optimization.
3 units · Letter or Credit/No Credit
Techniques of analysis of risk management decisions in engineering and other systems involving preferences and trade-offs (technical, human, environmental aspects). Elements of decision analysis; probabilistic risk analysis in the public or private sector (fault trees, event trees, systems dynamics); Bayesian updating and learning (elementary notions of quantum computing for complex cases); value of tests, economic analysis of failure consequences (human safety and long-term economic discounting); case studies such as space systems, nuclear power plants, medical systems and cyber security. Pre-requisites: probability, stochastic processes, and convex optimization.
Offered in Winter 2027 at Stanford University.