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Reliability: Ability to perform a specific function and may be given as design reliability or operational reliability Availability : Ability to keep a functioning state in the given environment Maintainability : Ability to be timely and easily maintained (including servicing, inspection and check, repair and/or modification)
The Mil-HDBK-217 reliability calculator manual in combination with RelCalc software (or other comparable tool) enables MTBF reliability rates to be predicted based on design. A concept which is closely related to MTBF, and is important in the computations involving MTBF, is the mean down time (MDT). MDT can be defined as mean time which the ...
Reliability-seeking organizations are not distinguished by their absolute errors or accident rate, but rather by their “effective management of innately risky technologies through organizational control of both hazard and probability” [13] (p. 14). Consequently, the phrase "high reliability" has come to mean that high risk and high ...
Risk management is predicting and managing risks that could hinder the organization from reliably achieving its objectives under uncertainty. Compliance refers to adhering with the mandated boundaries (laws and regulations) and voluntary boundaries (company's policies, procedures, etc.).
A risk assessment is an important tool that should be incorporated in the process of identifying and determining the threats and vulnerabilities that could potentially impact resources and assets to help manage risk. Risk management is also a component of a risk control strategy because Nelson et al. (2015) state that "risk management involves ...
Example of risk assessment: A NASA model showing areas at high risk from impact for the International Space Station. Risk management is the identification, evaluation, and prioritization of risks, [1] followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. [2]
Operational availability is a management concept that evaluates the following. [1] Diagnostic down time; Criticality; Fault isolation down time; Logistics delay down time; Corrective maintenance down time; Any failed item that is not corrected will induce operational failure. is used to evaluate that risk. Operational failure is unacceptable in ...
Deliberate risk management is used at routine periods through the implementation of a project or process. Examples include quality assurance, on-the-job training, safety briefs, performance reviews, and safety checks. Time Critical Time critical risk management is used during operational exercises or execution of tasks.