The marine industry can improve its performance in designing systems, subsystems and components on which its operations depend on by using risk-based methods and tools. In an environment of increasingly complex engineering systems and structures, the concern about the operational safety of the latter continues to play an important role in their design, construction and operation procedures. A rational and quantitative approach for assessing the failure probabilities and the impact of failure of the structure on its environment (human beings, natural environment) is needed. [Read more…]