Recasting risk analysis methods in terms of object-oriented modeling techniques

For more than two decades, risk analysts have relied on powerful logic-based models to perform their analyses. However, the applicability of these models has been limited because they can be complex and expensive to develop. Analysts must frequently start from scratch when analyzing a new (but similar) system because the understanding of how the system works exists only in the mind of the analyst and is only incompletely instantiated in the actual logic model. This paper introduces the notion of using explicit object-oriented system models, such as those embodied in computer-aided software engineering (CASE) tools, to document the analyst`s understanding of the system and appropriately capture how the system works. It also shows that from these models, standard assessment products, such as fault trees and event trees, can be automatically derived.