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Terminology Explained

Posts tagged with 'Terminology Explained'

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Terminology explained: What is the difference between Calendar and Operational time?

Terminology explained: What is the difference between Calendar and Operational time?

Kuhan Sivathasan, Principal Asset Performance Consultant For this week’s Terminology explained: What is the difference between Calendar and Operational time? We’ve got one of the most experience Asset Performance Consultants, Kuhan Sivathasa ...

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Terminology Explained: What is a parametric study?

Terminology Explained: What is a parametric study?

In this edition of Terminology Explained, we cover the topic of a Parametric Study.  Perhaps you and your organization call this by another name (or didn't realize it even *had* a name!).  It is an easy concept to understand, but not always easy t ...

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Terminology Explained: P10, P50 and P90

Terminology Explained: P10, P50 and P90

In today’s Terminology Explained: P10, P50 and P90. When working with Monte Carlo simulations, some parameters that show up quite a lot are the P10, P50 and P90. What are these parameters? Why are they so important? The large amount of data prod ...

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Terminology explained: What is the Monte Carlo method?

Terminology explained: What is the Monte Carlo method?

We are starting a new series of post today - Terminology explained: What is the Monte Carlo Method? Let’s find the definition we can find in this IEEE paper: Introduction to Monte Carlo simulation “Monte Carlo simulation is a type of simulation ...

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Terminology explained: Vapour Cloud Explosion (VCE)

Terminology explained: Vapour Cloud Explosion (VCE)

Explosions are a complicated physical phenomenon which science continues to investigate. Major accidents such as Buncefield, Texas City and, more recently, at the Amuay refinery in Punto Fijo Venezuela, have focused attention on assessing the effe ...

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