Ibbs_Lectures 9 _ 10 - CE167 Engineering and Project...

Info icon This preview shows pages 1–12. Sign up to view the full content.

View Full Document Right Arrow Icon
CE167: Engineering and Project Management Lectures 9-11
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Summary Risk Management: Identification Analysis Mitigation Lessons Learned Decision Trees, Expected Value and Decision Analysis Professor William Ibbs 2
Image of page 2
Risk Management CE167: Engineering and Project Management
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Risk can be defined by three attributes: What can fail (possible outcomes)? How likely is it to fail? What are the consequences of failure? An ideal output of a risk assessment would: Probability that some Failure or Set of Failures X will result in damage to population, equipment, etc. Y Risk Professor William Ibbs 4
Image of page 4
Risk Management But, assessing risk is only half the problem, we have to do something about it: Components of Risk Management: Identification Analysis Mitigation (this is really the management portion) Lessons Learned Professor William Ibbs 5
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Complementary Approaches Proactive Identifying and mitigating potential (known) hazards, or putting in redundancies to handle unforeseen causes and consequences. Reactive Performing appropriate analysis of incidents after they have occurred and instituting appropriate measures to mitigate future occurrence Interactive Mitigating and managing disasters or failures as they are occurring in order to reduce the consequences, or turn an impending failure into a near miss. Professor William Ibbs 6
Image of page 6
Proactive Utilize forecasting, expert opinion, probabilistic analysis and other tools to predict failures from predictable causes. One primary tool is the use of decision/fault/event trees (to be discussed in next section) Does not account for unknown (something you forgot) and unknown unknowables (something really weird) Professor William Ibbs 7
Image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Reactive Lessons Learned Analysis Critically evaluate near misses and failures to determine what went wrong and fix it. There are a lot of hidden opportunities for improvement from learning Tools: Root Cause Analysis Initiating, contributing, compounding factors After Action Reviews Look out for the slips, trips, and fall: They are clues to larger, endemic organizational problems. Professor William Ibbs 8
Image of page 8
Plan Act Do Check Reactive RAM: Shewhart PDCA Cycles Professor William Ibbs 9
Image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Analogous PDCA for Failures: Prevent Analyze Detect Correct Professor William Ibbs 10
Image of page 10
Interactive RAM A method to deal with unpredictable failures.
Image of page 11

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 12
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern