What Every Engineer Should Know About Risk Engineering and Management

by John X. Wang

Overview

Completely updated, this new edition uniquely explains how to assess and handle technical risk, schedule risk, and cost risk efficiently and effectively for complex systems that include Artificial Intelligence, Machine Learning, and Deep Learning. It enables engineering professionals to anticipate failures and highlight opportunities to turn failure into success through the systematic application of Risk Engineering. What Every Engineer Should Know About Risk Engineering and Management, Second Edition discusses Risk Engineering and how to deal with System Complexity and Engineering Dynamics, as it highlights how AI can present new and unique ways that failures can take place. The new edition extends the term "Risk Engineering" introduced by the first edition, to Complex Systems in the new edition. The book also relates Decision Tree which was explored in the first edition to Fault Diagnosis in the new edition and introduces new chapters on System Complexity, AI, and Causal Risk Assessment along with other chapter updates to make the book current.

Features

• Discusses Risk Engineering and how to deal with System Complexity and Engineering Dynamics
• Highlights how AI can present new and unique ways of failure that need to be addressed
• Extends the term "Risk Engineering" introduced by the first edition to Complex Systems in this new edition
• Relates Decision Tree which was explored in the first edition to Fault Diagnosis in the new edition
• Includes new chapters on System Complexity, AI, and Causal Risk Assessment along with other chapters being updated to make the book more current

The audience is the beginner with no background in Risk Engineering and can be used by new practitioners, undergraduates, and first-year graduate students.

Product Details

ISBN-13:	9781032439822
Publisher:	CRC Press
Publication date:	07/31/2023
Series:	What Every Engineer Should Know
Edition description:	2nd ed.
Pages:	264
Product dimensions:	6.12(w) x 9.19(h) x (d)

About the Author

Dr. John X. Wang has served as a Functional Safety Expert at Ford Motor Company and a Technical Director at Capgemini. As Senior Principal Functional Safety Engineer at Flex, Dr. Wang has been spotlighted as Employee of the Month by “Under the Hood”, the online magazine published by Flex Automotive to employees around the Globe. Dr. Wang has authored/coauthored numerous books and papers on reliability engineering, risk engineering, engineering decision-making under uncertainty, robust design and Six Sigma, lean manufacturing, green electronics manufacturing, cellular manufacturing, and industrial design engineering - inventive problem-solving. As a recognized inventor, Dr. Wang has been granted two Patents related to Risk Engineering by the US Patent and Trademark Office.

Table of Contents

1. Risk Engineering - Dealing with System Complexity and Engineering Dynamics. 2. Risk Identification - Understanding the Limits of Engineering Designs. 3. Risk Assessment - Extending Murphy’s Law. 4. Design for Risk Engineering - The Art of War Against Failures. 5. Risk Acceptability - Uncertainty in Perspective. 6. From Risk Engineering to Risk Management. 7. Cost Risk - Interacting with Engineering Economy. 8. Schedule Risk - Identifying and Controlling Critical Paths. 9. Integrated Risk Management and Computer Simulation.

Editorial Reviews

Explains how to assess and handle technical risk, schedule risk, and cost risk, enabling engineering professionals to anticipate failures regardless of system complexity. Introduces the concept of risk engineering for controlling technical risk through identification, analysis, design, and process management, and reveals strategies for identifying flaws in engineering designs, estimating risk, and avoiding wasting scarce resources. Wang is a quality expert with GE Transportation Systems. Roush is professor of reliability engineering at the University of Maryland. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Booknews

"This is the finest book that I have ever seen on Risk Assessment. It provides a detailed analytical approach with a sound scientific basis. The examples are very easy to follow and equations are easy to apply. All good designers should apply this approach in any design where there is a potential for loss of life or destruction of equipment. "
—-Richard L. Doyle, PE Past President, Institute of Electrical and Electronics Engineers Principle, Doyle and Associates La Jolla, California
"It is the best and most interesting engineering book that I have ever read. . ..The history sections keep the reader very interested and in the process make it easy to learn the engineering aspects. . .. . . .the book is very easy to read and is an excellent teaching guide. It contains very good and easy to understand examples and explanations. I have remembered what I have learned because I could relate to the book so well. I also found myself looking at things differently to make sure that all risk has been assessed. "
—-Mary Jo Armstrong Project Management for Aerospace Lord Corporation Erie, Pennsylvania

From the Publisher