Title :
Applying Bayes linear methods to support reliability procurement decisions
Author :
Bedford, Tim ; Denning, Richard ; Revie, Matthew ; Walls, Lesley
Author_Institution :
Dept. of Manage. Sci., Univ. of Strathclyde, Glasgow
Abstract :
With the support of the United Kingdom Ministry of Defence (MOD), the Bayes linear method has been used to support reliability decision making on two ´live´ projects. This paper focuses on one of these projects and shows how the Bayes linear methodology has been used to support decision making. The construction of a Bayes linear model comprises three parts. First, we need to structure the model. Second, we need to populate the model with our decision maker´s beliefs. Finally, we must analyze the model once observed data has become available. This paper will briefly discuss how this has been carried out.
Keywords :
Bayes methods; belief networks; decision making; procurement; risk management; Bayes linear methods; probabilistic Bayesian methods; reliability decision making; reliability procurement decisions; Bayesian methods; Decision making; Fitting; Probability distribution; Procurement; Risk management; Sensitivity analysis; Uncertainty; Vectors; Bayes Linear Methods; Reliability Procurement; Risk Assessment; Sensitivity Analysis;
Conference_Titel :
Reliability and Maintainability Symposium, 2008. RAMS 2008. Annual
Conference_Location :
Las Vegas, NV
Print_ISBN :
978-1-4244-1460-4
Electronic_ISBN :
0149-144X
DOI :
10.1109/RAMS.2008.4925819