Abstract:Risk‐based analysis provides an economically defensible framework for determining the optimal design of hydrosystems with the minimum total cost including project cost (installation plus operation/maintenance/repair) and failure‐induced expected damage cost. However, failure‐related damage function with good quality may not be widely available in practical applications for assessing annual expected damage cost. In addition to aleatory uncertainty representing natural randomness of hydrologic events, there exis… Show more
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