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The Palgrave Encyclopedia of Risk and Decision in Engineering Management

Title: The Palgrave Encyclopedia of Risk and Decision in Engineering Management
Scope: A comprehensive, two-volume reference work designed for practicing engineers, project managers, engineering leaders, and advanced students

Core Thesis: Effective engineering management in the 21st century requires the integrated management of risk and decision-making This work argues that these two disciplines cannot be siloed; rather, they form a continuous cycle where risk analysis informs decisions, and decisions create new risks that must be managed It provides the foundational theories, rigorous methodologies, practical applications, and forward-looking strategies to master this cycle

Structure and Content:

The encyclopedia is structured to guide the reader from fundamental concepts to advanced applications and future challenges

Volume 1: Foundations, Frameworks, and Quantitative Methodologies establishes the core intellectual framework

Part I: Foundational Concepts defines the language of risk hazard, uncertainty, safety and explores the psychological, ethical, and legal boundaries within which engineering decisions are made It establishes that decision-making is often bounded by rationality and influenced by cognitive biases
Part II: Risk Identification and Assessment Methodologies provides a complete toolkit, from qualitative techniques PHA, FMEA, Bow-Tie for initial screening to advanced quantitative methods Monte Carlo simulation, Bayesian Networks for deep, probabilistic analysis It introduces modern systemic approaches STPA, Resilience Engineering for complex socio-technical systems
Part III: Decision-Making Frameworks and Tools bridges risk assessment to action It covers economic frameworks LCCA, CBA, Real Options and multi-criteria techniques AHP, TOPSIS to evaluate trade-offs It culminates in risk-based decision principles like ALARP and the use of tools like decision trees to make transparent, defensible choices

Volume 2: Applications, Integration, and Emerging Frontiers translates theory into practice and looks toward the future

Part IV: Application Domains demonstrates how the core principles are applied across major engineering disciplines:
Project Management: Integrating risk into lifecycle and quantifying schedule uncertainty
Supply Chain: Mapping vulnerability and designing for resilience
Design & Systems Engineering: Baking in reliability, safety ISO 26262, and managing uncertainty via MBSE
Construction: Managing geotechnical, contractual, and stakeholder risks
Energy & Chemical Industries: Applying specialized QRA, LOPA, and asset integrity management
Part V: Integrating Risk into Organizational Processes scales risk management from the project to the entire enterprise It covers governance models Three Lines of Defense, creating a risk-aware culture, effective communication, treatment strategies, and the continuous cycle of monitoring and learning through audits and lessons-learned systems
Part VI: Emerging Frontiers explores the cutting edge of the field, where data science AI/ML, NLP, digital platforms is transforming predictive capabilities and where engineers must confront global, systemic challenges like climate change, the ethics of AI, and pandemic preparedness

Key Features and Value Proposition:

Comprehensive and Integrated: Uniquely combines risk management and decision science into a single, coherent body of knowledge
From Theory to Practice: Provides not just the "what" but the "how," with detailed methodologies and real-world application contexts
Forward-Looking: Dedicates significant content to emerging trends like digital twins, AI, and systemic risks, ensuring relevance for the future
Authoritative Reference: Structured as an encyclopedia with a detailed index and appendices glossary, case studies, software tools, making it an invaluable desk reference for professionals
Holistic Perspective: Addresses the full spectrum of risk—technical, operational, financial, strategic, and reputational—and emphasizes the critical human, cultural, and ethical dimensions of managing them

Target Audience:

This work is an essential resource for engineering professionals at all levels, project managers, consultants, and advanced students in engineering management, systems engineering, civil engineering, industrial engineering, and related fields It serves both as a pedagogical tool and a practical guide for tackling the complex, interconnected risks inherent in modern engineering projects and organizations

In essence, The Palgrave Encyclopedia of Risk and Decision in Engineering Management is the definitive guide to navigating uncertainty and making informed, strategic choices that ensure safety, resilience, and success in an increasingly complex world