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Using belief networks to assess risk

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2 Author(s)
B. McCabe ; Dept. of Civil Eng., Toronto Univ., Ont., Canada ; D. Ford

This paper reviews two commonly used risk assessment tools, namely weighted scores and expected value. The limitations of weighted scores have been outlined. One of the more difficult aspects of the expected value method is to determine the probability of an event. A probabilistic modeling environment called belief networks, has been proposed as an effective means of modeling the situation. An example application has been provided to show how the integrated system may work

Published in:

Simulation Conference, 2001. Proceedings of the Winter  (Volume:2 )

Date of Conference:

2001