Risk Analysis, 3ed: A Quantitative GuideThis book concerns itself with the quantification of risk, the modelling of identified risks and how to make decisions from those models. Quantitative risk analysis (QRA) using Monte Carlo simulation offers a powerful and precise method for dealing with the uncertainty and variability of a problem. By providing the building blocks the author guides the reader through the necessary steps to produce an accurate risk analysis model and offers general and specific techniques to cope with most modelling problems. A wide range of solved problems is used to illustrate these techniques and how they can be used together to solve otherwise complex problems. This book is set out in three major parts: the first part is for people making risk-based decisions and for analysts reporting to them so they understand how to meet the decision-maker's needs; the second part covers the theory of QRA; and the third part brings together the theory for different industries or typical industry problems so that a reader can quickly find what is useful to them.