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Books > Professional & Technical > Civil engineering, surveying & building
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Design Decisions under Uncertainty with Limited Information - Structures and Infrastructures Book Series, Vol. 7 (Paperback)
Loot Price: R2,373
Discovery Miles 23 730
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Design Decisions under Uncertainty with Limited Information - Structures and Infrastructures Book Series, Vol. 7 (Paperback)
Series: Structures and Infrastructures
Expected to ship within 12 - 17 working days
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Today's business environment involves design decisions with
significant uncertainty. To succeed, decision-makers should replace
deterministic methods with a risk-based approach that accounts for
the decision maker's risk tolerance. In many problems, it is
impractical to collect data because rare or one-time events are
involved. Therefore, we need a methodology to model uncertainty and
make choices when we have limited information. This methodology
must use all available information and rely only on assumptions
that are supported by evidence. This book explains theories and
tools to represent uncertainty using both data and expert judgment.
It teaches the reader how to make design or business decisions when
there is limited information with these tools. Readers will learn a
structured, risk-based approach, which is based on common sense
principles, for design and business decisions. These decisions are
consistent with the decision-maker's risk attitude. The book is
exceptionally suited as educational material because it uses
everyday language and real-life examples to elucidate concepts. It
demonstrates how these concepts touch our lives through many
practical examples, questions and exercises. These are designed to
help students learn that first they should understand a problem and
then establish a strategy for solving it, instead of using
trial-and-error approaches. This volume is intended for
undergraduate and graduate courses in mechanical, civil,
industrial, aerospace, and ocean engineering and for researchers
and professionals in these disciplines. It will also benefit
managers and students in business administration who want to make
good decisions with limited information.
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