Risk analysis and decision analysis frameworks provide an array of tools to aid the decision making process. This presentation provides an overview of Probabilistic Risk Analysis (PRA), which involves (i) estimation of probabilities, (ii) determination of the distribution of the damage and (iii) preparation of products that enable prediction of future risk events. The methodology provided by extreme value theory can also be a powerful tool in risk analysis
Reference:
Khuluse, S. Analysis of extreme events. Africa women in statistics seminar, April 2009. pp 1-27
Khuluse, S. (2009). Analysis of extreme events. CSIR. http://hdl.handle.net/10204/3362
Khuluse, S. "Analysis of extreme events." (2009): http://hdl.handle.net/10204/3362
Khuluse S, Analysis of extreme events; CSIR; 2009. http://hdl.handle.net/10204/3362 .
