|
Value Of Structural Health Information
The value of structural health information is the expected utility gain of a built environment system by information provided by structural health monitoring (SHM). The quantification of the value of structural health information is based on decision analysis adapted to built environment engineering. Background The value of structural health information takes basis in the framework of the decision analysis and the value of information analysis as introduced by Raiffa and Schlaifer. and adapted to civil engineering by Benjamin and Cornell. Decision theory itself is based upon the expected utility hypothesis by Von Neumann and Morgenstern. The concepts for the value of structural health information in built environment engineering were first formulated by Pozzi and Der Kiureghian and Faber and Thöns. Formulation The value of structural health information is quantified with a normative decision analysis Decision analysis (DA) is the discipline comprising the philosophy, method ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structural Health Monitoring
Structural health monitoring (SHM) involves the observation and analysis of a system over time using periodically sampled response measurements to monitor changes to the material and geometric properties of engineering structures such as bridges and buildings. For long term SHM, the output of this process is periodically updated information regarding the ability of the structure to perform its intended function in light of the inevitable aging and degradation resulting from operational environments. After extreme events, such as earthquakes or blast loading, SHM is used for rapid condition screening and aims to provide, in near real time, reliable information regarding the integrity of the structure. The SHM process involves selecting the excitation methods, the sensor types, number and locations, and the data acquisition/storage/transmittal hardware commonly called health and usage monitoring systems. Measurements may be taken to either directly detect any degradation or damage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision Analysis
Decision analysis (DA) is the discipline comprising the philosophy, methodology, and professional practice necessary to address important decisions in a formal manner. Decision analysis includes many procedures, methods, and tools for identifying, clearly representing, and formally assessing important aspects of a decision; for prescribing a recommended course of action by applying the maximum expected-utility axiom to a well-formed representation of the decision; and for translating the formal representation of a decision and its corresponding recommendation into insight for the decision maker, and other corporate and non-corporate stakeholders. History In 1931, mathematical philosopher Frank Ramsey pioneered the idea of subjective probability as a representation of an individual’s beliefs or uncertainties. Then, in the 1940s, mathematician John von Neumann and economist Oskar Morgenstern developed an axiomatic basis for utility theory as a way of expressing an individua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Of Information
Value of information (VOI or VoI) is the amount a decision maker would be willing to pay for information prior to making a decision. Similar terms VoI is sometimes distinguished into value of perfect information, also called value of clairvoyance (VoC), and value of imperfect information. They are closely related to the widely known expected value of perfect information (EVPI) and expected value of sample information (EVSI). Note that VoI is not necessarily equal to "value of decision situation with perfect information" - "value of current decision situation" as commonly understood. Definitions Simple A simple example best illustrates the concept: Consider the decision situation with one decision, for example deciding on a 'Vacation Activity'; and one uncertainty, for example what will the 'Weather Condition' be? But we will only know the 'Weather Condition' after we have decided and begun the 'Vacation Activity'. :* The Value of perfect information on ''Weather Condition'' c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expected Utility Hypothesis
The expected utility hypothesis is a popular concept in economics that serves as a reference guide for decisions when the payoff is uncertain. The theory recommends which option rational individuals should choose in a complex situation, based on their risk appetite and preferences. The expected utility hypothesis states an agent chooses between risky prospects by comparing expected utility values (i.e. the weighted sum of adding the respective utility values of payoffs multiplied by their probabilities). The summarised formula for expected utility is U(p)=\sum u(x_k)p_k where p_k is the probability that outcome indexed by k with payoff x_k is realized, and function ''u'' expresses the utility of each respective payoff. On a graph, the curvature of u will explain the agent's risk attitude. For example, if an agent derives 0 utils from 0 apples, 2 utils from one apple, and 3 utils from two apples, their expected utility for a 50–50 gamble between zero apples and two is 0.5''u''( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structural Health Monitoring
Structural health monitoring (SHM) involves the observation and analysis of a system over time using periodically sampled response measurements to monitor changes to the material and geometric properties of engineering structures such as bridges and buildings. For long term SHM, the output of this process is periodically updated information regarding the ability of the structure to perform its intended function in light of the inevitable aging and degradation resulting from operational environments. After extreme events, such as earthquakes or blast loading, SHM is used for rapid condition screening and aims to provide, in near real time, reliable information regarding the integrity of the structure. The SHM process involves selecting the excitation methods, the sensor types, number and locations, and the data acquisition/storage/transmittal hardware commonly called health and usage monitoring systems. Measurements may be taken to either directly detect any degradation or damage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and private physical structures such as roads, railways, bridges, tunnels, water supply, sewerage, sewers, electrical grids, and telecommunications (including Internet access, Internet connectivity and Broadband, broadband access). In general, infrastructure has been defined as "the physical components of interrelated systems providing Commodity, commodities and services essential to enable, sustain, or enhance societal quality of life, living conditions" and maintain the surrounding environment. Especially in light of the massive societal transformations needed to Climate change mitigation, mitigate and Climate change adaptation, adapt to climate change, contemporary infrastructure conversations frequently focus on sustainable development and gre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
