What Every Engineer Should Know About Risk Engineering and Management

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.

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.

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.