How useful is quantitative risk assessment?

@article{Apostolakis2004HowUI,
  title={How useful is quantitative risk assessment?},
  author={George E. Apostolakis},
  journal={Risk analysis : an official publication of the Society for Risk Analysis},
  year={2004},
  volume={24 3},
  pages={515-20}
}
This article discusses the use of quantitative risk assessment (QRA) in decision making regarding the safety of complex technological systems. The insights gained by QRA are compared with those from traditional safety methods and it is argued that the two approaches complement each other. It is argued that peer review is an essential part of the QRA process. The importance of risk-informed rather than risk-based decision making is emphasized. Engineering insights derived from QRAs are always… CONTINUE READING
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