A Spreadsheet Tool for Managing Probabilistic Risk Assessment Data
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Like most reliability and risk analyses, a Probabilistic Risk Assessment (PRA) is most effective when it can be used to influence design decisions in a timely manner. However, development of a PRA can be very resource consuming and its development typically lags design milestones, limiting its usefulness to that of a design verification tool. As the case study described in this paper shows, using a well-designed spreadsheet tool in conjunction with the PRA opens up opportunities for making quick turnaround risk assessments in support of trade studies and evolving design configurations to support risk informed decisions.
Keywords: RAMS 2011 Proceedings - Probabilistic Risk Assessment - Fault Tree - Simulation