“…Physical knowledge, expert information and data on the system behavior are used to build the model and estimate its parameters (Aven & Zio, 2011;Aven et al, 2014). The uncertainties in the model and parameters can be propagated by Monte Carlo (MC) simulation (Zio & Pedroni, 2009;Zio & Pedroni, 2012;Zhang et al, 2010;Catelani et al, 2015), Bayesian posterior analysis (Zhang & Mahadevan, 2001) and Fuzzy methodology (Dubais, 2010;Baraldi et al, 2015a;Garg, 2013;Garg, 2014). Most commonly, MC simulation is used, consisting in repeatedly sampling random values of the inputs from probability distributions (Zio, 2013).…”