Risk-Based Engineering

Considerations of risk reduction to minimum and acceptable level is integral to design, operations and regulation of complex engineering systems. Traditionally, risk and reliability aspects were addressed employing qualitative and experienced-based approaches that, at times, tends to be arbitrary as they were not based on quantitative metrics of risk and reliability. 

This course on Risk-based engineering presents an integrated model where the deterministic and probabilistic approaches compliment and supplement each other towards providing a more holistic framework for safety assessment and management for complex engineering systems. Further, this framework extends the science of probabilistic risk assessment and reliability engineering to include the state-of-the-art in physics-of-failure, prognostics & health management, human reliability and uncertainty prediction to make this approach more rational based. This model is expected to address the requirement of real-time advanced engineering system, more effectively. 

This course is based on a book entitled ‘Risk-based Engineering’ co-authored by Prabhakar V Varde and Michael Pecht, published by Springer in 2018. The main objective was to extend the current state-of-the art in risk-informed approach to risk-based engineering. Risk-based engineering is an applied subject that has been developed based on, over 20 years of experience in the area of risk and reliability and its applications to complex engineering systems. Risk-based engineering is an interdisciplinary subject and the lectures provides concepts, fundamentals, techniques, methods, and complex modelling requirements such that, risk and reliability targets can be achieved for engineering systems. 

This course on Risk-based Engineering offered through the NPTEL platform, where the objective is to share the experience and expertise of the instructor with scholars, working professionals and students on the subject matter. The academics and views expressed in this course are experience and opinion of the instructor and not the position, view of any organization he was / is associated with.

The lectures have been prepared mainly based on his book on Risk-based Engineering, published by Springer in 2018.  Even though the instructor’s experience in his professional areas forms part of these lectures, conscious efforts have been taken not to present any data and information of confidential nature, during this course. In fact, academic activities including teaching on topics like reliability, reliability and safety were some of the points identified as his duties as Raja Ramanna Chair / Fellow, DAE, in Homi Bhabha National Institute, activities. Reasonable efforts have been made to use the authentic, reliable and state of the art knowledge in the subject area, however, the author does not take the responsibility of validity and applicability or correctness of the material or consequences of their use.