Category: Mathematics

Reliability Function

Reliability Function

08/26/19

“How can we model how long something is expected to survive?”

One of the most fundamental laws of physics is that the total amount of entropy can only increase. Consequently, everything in the physical domain will wear out over time and eventually no longer function. Since the survival of many projects and people are responsibilities of many engineers and medical practitioners, these professions are interested in how long things are expected to last. This can be accomplished using a Reliability Function, (also known as a survival function in medicine), which models the statistical lifetime of an object of interest as a cumulative distribution function. These can play out in any number of ways, but the starting point must always be equal to 100% and the endpoint zero.

Image credit upload.wikimedia.org

Systematic Risk Assessment

Systematic Risk Assessment

05/17/19

“How can we assess risk on the systematic scale?”

Risk assessment can be done for a wide variety of topics. But if one wants to apply it on a high-level, such as analyzing power-plants or bridges, then one will need to apply Systematic Risk Assessment, which can be much more challenging than component level risk analysis.

Fire Risk Analysis

Fire Risk Analysis

05/16/19

“How can we analyze fire risk?”

Property catching on fire can be very dangerous. Whether it be a single building or a transmission line, the damage can be an order of magnitude worse than expected. Because of this, many property owners use risk analysis methods to keep their investments safe. This Fire Risk Analysis can be accomplished through the amalgamation of a multitude of methods, such as analyzing historical dire data, on-site building inspections, and material analysis.

Risk Analysis

Risk Analysis

05/15/19

“How can we analyze risk?”

Every engineering, business, or policy action has some sort of risk attached. Whether it be installing a wind turbine or funding a renewable energy startup, something could go wrong. As a result, before institutions will make a Risk Analysis to see if taking such an action is rational. Risk analysis can be performed in a multitude of different ways, both qualitatively and quantitatively.