Decision Tree Analysis

The FTA diagram example "Hazard analysis" was redesigned from the illustration of the article "Hazard Analysis Methodologies" from the Occupational Safety & Health Administration (OSHA) website.
"A fault tree analysis is a quantitative assessment of all of the undesirable outcomes, such as a toxic gas release or explosion, which could result from a specific initiating event. It begins with a graphic representation (using logic symbols) of all possible sequences of events that could result in an incident. The resulting diagram looks like a tree with many branches — each branch listing the sequential events (failures) for different independent paths to the top event. Probabilities (using failure rate data) are assigned to each event and then used to calculate the probability of occurrence of the undesired event. ...
This technique is particularly useful in evaluating the effect of alternative actions on reducing the probability of occurrence of the undesired event."
[osha.gov/ SLTC/ etools/ safetyhealth/ mod4_ tools_ methodologies.html]
The FTA diagram example "Hazard analysis" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Fault Tree Analysis Diagrams solution from the Engineering area of ConceptDraw Solution Park.

This example was redesigned from the Wikimedia Commons file: Example of High Level Fault Tree.jpg. [commons.wikimedia.org/ wiki/ File:Example_ of_ High_ Level_ Fault_ Tree.jpg]
"Risk assessment is the determination of quantitative or qualitative value of risk related to a concrete situation and a recognized threat (also called hazard). Quantitative risk assessment requires calculations of two components of risk (R):, the magnitude of the potential loss (L), and the probability (p) that the loss will occur. Acceptable risk is a risk that is understood and tolerated usually because the cost or difficulty of implementing an effective countermeasure for the associated vulnerability exceeds the expectation of loss.
In all types of engineering of complex systems sophisticated risk assessments are often made within Safety engineering and Reliability engineering when it concerns threats to life, environment or machine functioning. The nuclear, aerospace, oil, rail and military industries have a long history of dealing with risk assessment. Also, medical, hospital, social service and food industries control risks and perform risk assessments on a continual basis. Methods for assessment of risk may differ between industries and whether it pertains to general financial decisions or environmental, ecological, or public health risk assessment." [Risk assessment. Wikipedia]
The FTA diagram example "High level fault tree" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Fault Tree Analysis Diagrams solution from the Engineering area of ConceptDraw Solution Park.

The vector stencils library "Fault tree analysis diagrams" contains 12 symbols for drawing Fault Tree Analysis (FTA) diagrams.
"Fault tree analysis (FTA) is a top down, deductive failure analysis in which an undesired state of a system is analyzed using Boolean logic to combine a series of lower-level events. This analysis method is mainly used in the fields of safety engineering and reliability engineering to understand how systems can fail, to identify the best ways to reduce risk or to determine (or get a feeling for) event rates of a safety accident or a particular system level (functional) failure. FTA is used in the aerospace, nuclear power, chemical and process, pharmaceutical, petrochemical and other high-hazard industries; but is also used in fields as diverse as risk factor identification relating to social service system failure.
In aerospace, the more general term "system Failure Condition" is used for the "undesired state" / Top event of the fault tree. These conditions are classified by the severity of their effects. The most severe conditions require the most extensive fault tree analysis. These "system Failure Conditions" and their classification are often previously determined in the functional Hazard analysis." [Fault tree analysis. Wikipedia]
The shapes example "Fault tree analysis diagrams" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Fault Tree Analysis Diagrams solution from the Engineering area of ConceptDraw Solution Park.