SYSTEM AND METHOD FOR DETECTION OF RARE FAILURE EVENTS

A method includes generating a system model representative of a socio-technical system having a plurality of system parameters. The method further includes selecting one or more essential system parameters from the plurality of system parameters. The method also includes determining a plurality of probability distributions corresponding to the one or more essential system parameters. The method further includes determining at least one hyperbox using a sampling optimization technique based on the one or more essential system parameters. The at least one hyperbox is representative of a confidence region corresponding to a rare event of the socio-technical system. The method also includes determining a probability of the rare event using a variance reduction technique based on a plurality of particles obtained from the at least one hyperbox. The probability of the rare event is representative of a performance of the socio-technical system.