IND 832

The purpose of this course is to present analytical approaches to reliability engineering, decision analysis and risk assessment. In the first part of the course, students will be introduced to reliability functions, reliability distributions, analysis of failure data, reliability of systems, design for reliability, maintenance, reliability testing. The focus of the second part of the course is placed on the methodology to model, construct, solve and interpret various decision problems. Decision tree, value of information, risk assessment, utility theory, and multiple objective decision-making will be presented.