Using Bayesian Estimation to Quantify the Risks of Spaceflight

Abstract

Complex PRA is the best method and current gold standard, as it allows us to reflect changes (improvements) in individual spacecraft system risks over time. Yet, Bayesian methods using simple inputs allowed us to get estimates that are in line with high-complexity PRA. Here Bayesian estimation acts as a gut check on PRA (supposing a reasonable prior is used). Frequentist calculations can overestimate P(failure), especially when total number of trials are few (e.g., after Challenger). In general, Bayesian probability estimation can be used in any risk assessment situation to integrate what we think we know ahead of time with what we observe over time