Statistical modeling for risk assessment at sudden failures of construction equipment

Abstract

This paper applies the statistical modeling method to provide a quantitative assessment of risks emerging at sudden failures of construction equipment. The risk mathematical model takes into consideration the distribution parameters of operation, downtime and repair hours determined for a general population of the failed part finite volume. The proposed modeling algorithm is applied to assess risks at sudden dipper stick failures. The modeling results allow one to evaluate the tolerable period for the equipment use under the set risk levels.