TeachMeFinance.com - explain Probabilistic risk analysis
Probabilistic risk analysis The term 'Probabilistic risk analysis' as it applies to the area of nuclear science can be defined as ' A systematic method for addressing the risk triplet as it relates to the performance of a complex system to understand likely outcomes, sensitivities, areas of importance, system interactions, and areas of uncertainty. The risk triplet is the set of three questions that the NRC uses to define 'risk': (1) What can go wrong? (2) How likely is it? and (3) What are the consequences? NRC identifies important scenarios from such an assessment. '.
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