Methodology for technical risk assessment

A methodology has been developed for and applied to the assessment of the technical risks associated with an evolving technology. This methodology, originally developed for fusion by K. W. Billman and F. R. Scott at EPRI, has been applied to assess the technical risk of a fuel system for a fusion reactor. Technical risk is defined as the risk that a particular technology or component which is currently under development will not achieve a set of required technical specifications (i.e. probability of failure). The individual steps in the technical risk assessment are summarized. The first step in this methodology is to clearly and completely quantify the technical requirements for the particular system being examined. The next step is to identify and define subsystems and various options which appear capable of achieving the required technical performance. The subsystem options are then characterized regarding subsystem functions, interface requirements with the subsystems and systems, important components, developmental obstacles and technical limitations. Key technical subsystem performance parameters are identified which directly or indirectly relate to the system technical specifications. Past, existing and future technical performance data from subsystem experts are obtained by using a Bayesian Interrogation technique. The input data is solicited in the form of probability functions. Thus the output performance of the system is expressed as probability functions