A New Quantitative Risk Analysis Software for Dam and Levee Safety, RMC-TotalRisk

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 that guides users through the necessary inputs. It seamlessly integrates flood hazard curves from RMC-BestFit, RMC-RFA, and RMC-RRFT, as well as consequence estimates from LifeSim. Utilizing the built-in event tree tool, RMC-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 key inputs and identify primary sources of uncertainty. RMC-TotalRisk stands as a powerful tool that significantly enhances and expedites quantitative risk analyses, ultimately contributing to more informed and effective investment decisions in dam and levee safety.