Risk Evaluation

This chapter focuses on the evaluation of risk (Step 4) by applying several different techniques. While the Sections may seem long, the methods are relatively simple and a lot of examples and explanations are provided to illustrate how they can be applied in practice. After this chapter, you will be ready to try all of the practice problems in the Exercise Chapter.

MUDE Exam Information

You are expected to make simple calculations as illustrated in the following sections: decision analysis, cost benefit analysis and economic optimization. You should understand the difference in the three types of risk described in the safety standards section and be able to make calculations to see if a component or system meets the requirements, as well as recommend simple risk criteria.