ABSTRACT

Risk and reliability engineering is concerned with the study, evaluation and lifecycle management of engineering systems, in order to ensure that they are
reliable and safe. The major objective is to ensure cost effectiveness and to
reduce the consequences of failure as reasonable as possible. Both qualitative
and quantitative methods are employed for risk and reliability assessment.
In this work these techniques or methods have been demonstrated. The
probability that the limit state function, for a described system, is less than zero
was calculated. Any value less than zero indicate a failure region. The results
indicate that the system would operate between its failure surface and safe
region. Also demonstrated is how to calculate the reliability of a system and
draw its reliability and hazard curves.
Furthermore, the failure mode, effect and critical analysis (FMECA) of an
offshore oil and gas production platform (process) was performed. And also the
project risk management of a 1GW offshore wind farm was demonstrated.

TABLE OF CONTENTS
ABSTRACT ......................................................... Error! Bookmark not defined.
TABLE OF CONTENTS .................................................................................... 4i
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LIST OF TABLES................................................................................................iv
1 QUANTITATIVE RELIABILITY METHODS ...... Error! Bookmark not defined.
1.1 Introduction ................................................ Error! Bookmark not defined.
1.2 Objective .................................................... Error! Bookmark not defined.
1.3 Monte Carlo Simulation Method ................................................................ 2
1.4 Given Data ................................................................................................ 3
1.5 Calculations .............................................................................................. 5
2 SYSTEM RELIABILITY ................................................................................... 7
2.1 Introduction ............................................................................................... 7
2.2 Objective...................................................................................................8
2.3 Given Data ................................................................................................ 8
2.4 Calculation ................................................................................................ 8
3 FAILURE MODE AND EFFECTS ANALYSIS ............................................... 14
3.1 Introduction .............................................. Error! Bookmark not defined.4
3.2 Objective .................................................. Error! Bookmark not defined.4
3.3 Offshore Oil & Gas Production Platform Case Study .............................. 14
4 PROJECT RISK MANAGEMENT ................... Error! Bookmark not defined.8
4.1 Introduction .............................................. Error! Bookmark not defined.8
4.2.Objective .................................................. Error! Bookmark not defined.8
4.3 Discrete Phases of IGW Offshore Wind Turbine Farm And The Work
Break Down ................................................... Error! Bookmark not defined.8
REFERENCES ................................................................................................. 20

LIST OF FIGURES
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