Overview: Hydraulic, hydrologic and water resources engineers have been concerned for a long time about failure phenomena. One of the major concerns is the definition of a failure event E, of its probability of occurrence PtE), and of the complementary notion of reliability. However, as the stochastic aspects of hydraulics and water resources engineering were developed, words such as "failure," "reliability," and "risk" took on different meanings for different specialists. For example, "risk" is defined in a Bayesian framework as the expected loss resulting from a precisely defined failure eve
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