The U.S. Army Corps of Engineers (USACE) Risk Management Center (RMC) introduces RMC-TotalRisk, an advanced risk analysis software designed to facilitate decision-making in dam and levee safety investments. This comprehensive tool streamlines the user experience with an intuitive workflow, guiding through necessary inputs. It seamlessly integrates flood hazard curves from RMC-BestFit, -RFA, and -RRFT and consequences estimates from LifeSim. Utilizing the built-in event tree tool, TotalRisk enables the estimation of system response probabilities.
A distinctive feature of RMC-TotalRisk is its capability to conduct a full Monte Carlo analysis, simulating uncertainty in every input. Remarkably, the software achieves this within short runtimes, ranging from a few seconds to minutes. The output includes insightful plots and diagnostics, offering users valuable insights. Furthermore, the software incorporates a sensitivity analysis option, allowing users to discern the key inputs and identify the primary sources of uncertainty. RMC-TotalRisk stands as a powerful tool to significantly enhance and expedite quantitative risk analyses, ultimately contributing to more informed and effective investment decisions in dam and levee safety.
